The question many are asking following the abrupt closure of ScoreStreak.com: Does my Daily Fantasy Sports site have solid backing behind it or will it go broke like ScoreStreak?
Underfunding is a major concern within the DFS sector. Today we look at the Vancouver-based site DraftTeam.com, which is said to have “moderate liquidity” with “near term positive cash flow anticipate” (as of June 1, 2015). The site was begun in 2012 and only began active promotion of its platform over the past year.
Intelimax Media, Inc. (IXMD) is the company behind DraftTeam.com. IXMD is led by a team of experts in technology, gaming, marketing, and finance who have identified key opportunities in the rapidly emerging daily fantasy sports and social media sectors.
The exact amount of funds it had for working capital in March 2015 was approximately $2 million. DraftTeam.com’s parent company is publicly traded on the Canadian stock boards CNSX & OTCPink. Now granted, these boards do not have the oversight of say a NASDAQ.
The company trades under the symbol DFS on the Canadian Stock Exchange following a consolidation in January.
IXMD is currently undertaking significant upgrades to its proprietary daily fantasy sports and social gaming platform. It is not immediately known if they are offering their software on a white label basis, something many industry executives and would-be Daily Fantasy Sports operators have been inquiring about with us.
DraftTeam.com does engage in Google Adsense advertising and maintains a presence on social media such as Twitter and Facebook.
The Management team consists of CFO Michael Young, a previous director and corporate secretary for Stream Communications Network & Media Inc, CEO John Buttedahl, a one-tme Senior business development manager for iGaming Software Ltd. responsible for signing and launching VIP Poker, Casino and Sports Wagering licensees, and Kyle Johnstone, who does Corporate Development.
This site is not yet endorsed by DFS911.com. It appears to be focused on building a talented team of employees.
Updates to the above information may be provided here
– Aaron Goldstein, Gambling911.com