Yahoo, backed by Apollo Global Management, has bought Wagr, a peer-to-peer sports betting mobile application focused on making gaming social and accessible.
Wagr was the first social sports betting operator to receive a license in the U.S. The company brings experience in social mobile app development, user experience and community-driven games. With this deal, Wagr will be fully integrated into Yahoo Sports.
“The unique combination of Yahoo’s scale and engagement creates opportunities for virtuous product loops between sports media and gaming,” comments Mario Malavé, co-founder and CEO of Wagr. “Joining Yahoo allows us to continue delivering on our mission to connect fandom to social gaming while elevating our ability to execute through expanded resources, new partnerships and technological capabilities.”