Fanatics raised $1 billion of funding led by Softbank

Fanatics raised US$1 billion of funding led by SoftBank Group Corp's Vision fund. The sports e-commerce company headquartered in Jacksonville, Florida, is getting new funds to grow its business online into the international market for the National Basketball Association and the National Football League.

Tinuku Fanatics raised $1 billion of funding led by Softbank

Most Fanatics businesses exist in the United States with licensed items such as sports team jerseys. Fanatics CEO, Doug Mack, hopes to expand its international share by utilizing SoftBank's expertise in Asia. Fanatics handles international online sales for Manchester United and Real Madrid to take 10 percent of the sale.

Mack said today the company is only dredging the surface of global opportunities. Football is the number one sport in the world and then cricket. Funding is mostly from SoftBank, while National Football League and Major League Baseball also participate.

Fanatics also wants to recruit more engineers, data scientists and designers. Mack says one of the company's strengths is the technology to produce jerseys very quickly. Designing a shirt, getting permission from the sports team and start shipping only takes three days.