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Report: Vancouver-based Dapper Labs Raising New Funds at $7.5B+ Valuation Following Major $305 Million Funding Round Just 3 Weeks Ago
Monday, April 19, 2021Company Profile | Follow Company
Vancouver, BC, April 19, 2021--(T-Net)--Vancouver-based Dapper Labs, the company behind NBATop Shot and the new Flow blockchain, is reportedly raising additional new money at a $7.5 billion valuation in a round led by Coatue Management, according to the tech news publication The Information.
Vancouver-based Dapper Labs, the company behind NBATop Shot and the new Flow blockchain, announced that it has closed $305 million in new funding led by Coatue just three weeks ago on March 30th.
The funds were to be used to scale the Dapper Labs team to continue building out its NBA Top Shot vision, expanding the platform to other sports, and helping a new generation of creators develop engaging experiences using blockchain technology including NFTs.
Dapper Labs' NBA Top Shot is one of the world's fastest-growing marketplaces, with nearly $500 million in collectibles bought and sold, more than 800,000 registered accounts, more than 338,000 customers with at least one NFT, and over 3 million transactions, less than five months into its open beta.
About Dapper Labs
Dapper Labs is the company behind CryptoKitties and the Flow blockchain. Founded in 2018, Dapper Labs uses blockchain technology to bring new forms of digital engagement to fans around the world. Blockchain-enabled applications can bring fans closer with the brands they love, give people a real stake in the communities they contribute to, and create new ways for consumers to become creators themselves.
Publicly-announced Dapper Labs partners include the NBA and NBPA, Warner Music Group, Ubisoft, and UFC. Notable investors in Dapper Labs include Andreessen Horowitz, Union Square Ventures, Venrock, Google Ventures, Samsung, and the founders of Dreamworks, Reddit, Coinbase, Zynga, and AngelList, among others. For more information, please visit www.dapperlabs.com.
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