Yahoo has acquired Wagr, a sports betting app that makes gaming accessible. Terms were not disclosed.
The acquisition is “a step in the development of the next generation of Yahoo Sports' gaming portfolio," said Jim Lanzone, CEO of Yahoo.
Wagr will be integrated into Yahoo Sports.
“Acquiring Wagr creates an immediate opportunity for us to expand into new group formats that can take engagement and friendly competition to the next level,” adds Jon Shaw, SVP of Yahoo Sports.
Wagr had previously received investments from Seven Seven Six, led by Reddit co-founder Alexis Ohanian; Greycroft; Pear VC; the Kraft Group, owners of the New England Patriots and New England Revolution; Harris Blitzer Sports & Entertainment, owners of the Philadelphia 76ers and New Jersey Devils and BITKRAFT Ventures.
Lanzone adds that Wagr stands out for its “innovative emphasis on community and social engagement in sports gaming.”
This which aligns with the Yahoo fantasy platform that has brought tens of millions of fans together for over 20 years."