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December 7, 2022

Fanatics Closes $700M Fundraising Round at $31B Valuation

Michael Rubin and the Fanatics family put a bow on an incredible 2022. The sports apparel company announced that it raised $700 million at a $31 billion valuation. LionTree and Clearlake Capital led the round. The news marks the end of a significant year for growth for the company, which acquired Topps, Mitchell & Ness, and drove $8 billion in revenue. Looking forward, Fanatics has begun to eye its move into the sports betting world. The new cash infusion will drive further mergers and acquisitions for the company.

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Meta Tops List of Fastest Growing Brands

Meta just closed a major round of layoffs; however, the company has its sights set on the future. Morning Consult named Meta the fastest-growing company of the year. The honor comes as Meta seeks to expand its position in Web3. The list also includes Crocs and Beats, rounding out the top three. This year’s rankings reflected the slowest year for growth, due to the lingering effects of inflation.

Apple Music Prepares to Release Karaoke Function

What’s your go-to karaoke song? Now, you’ll be able to show your vocal chops anywhere you go thanks to a new feature from Apple. Apple Music Sing will come to Apple Music later this month and be compatible with handheld Apple products, including the iPad and iPhone. The new experience, which includes a deep songbook and even curated playlists of top hits, will allow you to turn any standard living room into a karaoke lounge.

Tennessee's Jalin Hyatt Inks Deal with Hyatt Hotels

Some collabs are just too good to bypass. Jalin Hyatt made his mark on college football, hauling in five touchdowns in Tennessee’s thrilling win over SEC-rival Alabama. Now, he’s making another connection – linking with Hyatt Hotels for a new NIL deal. As part of the deal, Hyatt will gift his teammates credit for upcoming travel. It’s not the first deal for Hyatt, who also has partnerships with Bose and Keller Williams Sports and Entertainment group.

Aaron Judge Remains a Yankee with 9-Year, $360M Contract

Aaron Judge is not leaving the Bronx anytime soon. The MLB Network’s Jon Morosi and Athletic’s Ken Rosenthal report that Judge and the Yankees reached a deal that will keep the record-setting slugger in pinstripes. The nine-year deal is reportedly worth $360 million. The news comes after TIME Magazine named Judge its 2022 “Athlete of the Year.”

Read more on the historic contract from Boardroom’s Sam Dunn. 

Opendorse Raises $20M

The NIL revolution rages on. One key player in the space, Opendorse, announced that it closed a $20 million fundraising round, which attracted former NFL player Will Compton, Flyover Capital, Advantage Capital, and more. In a statement, the company’s CEO Blake Lawrence said, “Opendorse raised this round to deliver the NIL connectivity that student-athletes and their supporting parties need to succeed.” The company believes that in coming years it could work with up to 500,000 student-athletes amidst an industry worth $10 billion.

'Wednesday' Streams into Netflix History with Record-setting Viewership

Netflix needed a late-season W, and it found just that in the form of the hit show WednesdayThe next generation of the Addams Family starring Jenna Ortega, Luis Guzman, Catherine Zeta Jones, and Cristina Ricci continues to break its own records. The show posted the most hours viewed in a single week, beating itself the following week with 411 million. Wednesday already sits as the third-most viewed show in Netflix history, following Squid Games and Stranger ThingsIt is expected to surpass 1 billion total hours in the coming week.