Yahoo adds Wagr to its sports portfolio through acquisition

The acquisition of Wagr, a P2P sports betting app, has been finalised by Yahoo and will be completely integrated into Yahoo Sports.

The purchase of Wagr is a thrilling chapter in the evolution of Yahoo Sports' gaming portfolio, according to Jim Lanzone, Yahoo's CEO.

"Wagr stands out for their innovative emphasis on community and social engagement in sports gaming, which aligns perfectly with the Yahoo award-winning fantasy platform that has brought tens of millions of fans together around their love of sports for over 20 years."

Wagr is well-versed in community support, app development, and social game creation.

"Yahoo Sports offers us a stage to build products that will reach millions of loyal fans that have connected over fantasy sports for decades," stated Mario Malavé, Co-Founder and CEO of Wagr.

Opportunities for positive feedback loops in sports media and gaming arise from Yahoo's size and involvement in a way that no other company can.

"Once we're a Yahoo! partner, we'll have access to even more resources, new alliances, and technology that will help us carry out our mission of bringing together fandom and social gaming."

"We are tremendously thrilled to welcome Wagr to the Yahoo Sports family," stated Jon Shaw, senior vice president of Yahoo Sports.

The true benefit of our fantasy leagues lies in the fact that they bring friends together via shared interests in sports, whether it's friendly competition or just cheering for a favourite team.

"With Wagr's acquisition, we're able to jump right into exploring new group formats that can revolutionise competition and engagement."