Hey Sports Tech Fans,
Fubo TV bring cord cutting to the stock market with their launch under the ticker of FUBO.
This follows on from Draft Kings and Peloton that have gone public in the life time of this newsletter.
There might well be others that I have missed but it really solidifies sports tech as a vertical.
For years sports tech, wasn’t even a thing but in recent years we have seen a plethora of sports tech focused accelerators and venture capital funds launch as well as numerous acquisitions of sports tech companies.
Taking a sports tech company public shows the massive scale that sports has and its future potential.
Against the backdrop of COVID, sports are struggling in ways they have never had to endure as fans and live events are crucial to the experience and ultimately the bottom line.
I have complained about the sports industry being more reserved that others in terms of adopting innovation, but with COVID, we have seen an acceleration in the adoption of new technologies.
We have seen a huge rise in sports teams moving in to esports and gaming, starting their own streaming channels and production of live content, adopting new software and hardware to improve athlete performance.
While sports is behind a lot of other industries, the trend is very promising.
Have a great sporting weekend,