DraftKings to become a public unicorn - this is the data as America gets ready to place its bets
Here come the 2020 IPOs. Web-based gambling and fantasy gaming company DraftKings ($DRAFTKINGS) is betting on a special purpose acquisition company and a gaming and technology company in an offering expected next year that will value it at more than $3.3 billion.
More US states are legalizing sports gambling, and many of them are supporting legislation with a component added that permits gambling via smartphone.
Our first chart tracks DraftKings' Twitter ($NYSE:TWTR) Followers count over time - there are some sharp increases in the app's engagement, which is one of the most critical things that should excite investors. Some of these big jumps in following come as US states have approved legislation to permit gambling, which might mean that tens of thousands of new users are choosing to engage with DraftKings' social handle and app every time a new market opens up. And, because the site and app are especially aggressive pushing advertising campaigns to net new users, this might be a signal it is working.
We can also track the staffing levels of DraftKings historically - and we can tell that as expectations grew that headcount did, too. Our LinkedIn ($NASDAQ:MSFT) Headcount shows DraftKings added more than 400 staffers since the beginning of 2019, and grew headcount more than 31% so far this year.
We can track each of DraftKings' dozens of apps via the Apple ($NASDAQ:AAPL) and Google ($NASDAQ:GOOG) stores, and ratings (not shown) reflect very satisfied users for both fantasy sports and its gaming apps.
Our final chart tracks DraftKings Facebook ($NASDAQ:FB) Talking About Count, or how often people are discussing it on social media. Check the data spike on February 4, 2019 - that's the Super Bowl - and expect that it should be much higher for Sunday, February 2, 2020, which is when it will be held for the year ahead. It's notable that - while Twitter following is rising - DraftKings' Facebook Likes (not shown) are declining, which is surprising since it is on a branding warpath as gambling is being approved by state legislatures coast-to-coast.
About the Data:
Thinknum tracks companies using the information they post online - jobs, social and web traffic, product sales and app ratings - and creates data sets that measure factors like hiring, revenue and foot traffic. Data sets may not be fully comprehensive (they only account for what is available on the web), but they can be used to gauge performance factors like staffing and sales.