GENI - Sportradar IPO arrives with sports betting buzz on a rush

Sportradar (SRAD) is set to go public this week with a valuation that could top $8B. The sports analytics company, which counts basketball star Michael Jordan and Mark Cuban among its backers, has relationships with the NBA, NHL, MLB and other sports organizations. Roundhill Investment's Mario Stefanidis breaks down the IPO: "Sportradar was initially supposed to be taken public via the Horizon Acquisition Corp II SPAC at a $10-$12 billion valuation. After the lower amount was agreed upon, Horizon had trouble raising the private investment in public equity, due to the entire SPAC landscape being under pressure. Now, Sportradar will be pursuing a traditional IPO at around a 20% lower valuation than initially proposed, but will likely be oversubscribed due to excitement around the offering. The company generated $478 million in revenue in 2020, putting its trailing P/S ratio at about 17.5x. Sportradar is also cash flow positive, having produced

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Sportradar IPO arrives with sports betting buzz on a rush