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DraftKings is getting bigger. A lot bigger.
The daily fantasy sports company said it is moving its headquarters within Boston. It has also started what it calls “an aggressive hiring campaign” that the company says will increase the size of the company by 75 percent in the next 18 months.
Here’s what we know, via DraftKings:
“We are entering an exciting phase of accelerated growth at DraftKings as we continue to develop new products and diversify our offerings. To meet these needs and remain at the forefront of innovation, DraftKings is focused on hiring top talent,” said Jason Robins, co-founder and CEO of DraftKings, in a press release.
“We are also honing in on our commitment to Boston by opening a new headquarters in the city. We’re especially thankful to Governor Baker, Mayor Walsh and the state’s legislative leadership for their continued support of our company and Boston’s thriving tech economy.”
The last year has not exactly been one for explosive growth in the DFS space, although DraftKings has said its numbers — active users and revenue — are up year over year.
Despite that, there are lots of reasons for DraftKings to eye expansion:
Of course, whether that cocktail of variables warrants massive expansion is in the eye of the beholder. The last known investment in DraftKings came about a year ago, to the tune of $100 million. Whether it is seeking to raise more funds for the expansion — or if it has already raised behind the scenes to make this possible — is unknown.
Growth has not been on FanDuel’s agenda. Instead, DraftKings’ competitor has said on more than one occasion that it is focused more on profitability, and that it will reach that goal for the entirety of 2018.
What do we know about what’s going on at FanDuel?
Signs seem to point to the company being sold sometime in 2018.