Barstool Sports Stock
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About Barstool Sports Stock
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In 2003 a print publication founded by David Portnoy called Barstool Sports began offering gambling advertisements and fantasy sports projections. Over the years, it has evolved into a full blown media powerhouse beyond sports, known for everything from its pizza reviews to its podcast empire.
Barstool is now the sixth-most popular podcast publisher in the U.S. ahead of juggernauts such as ESPN and NBC News. With a reach that most media companies would die for, Barstool sees more than 66 million monthly unique users with 46% of them in the coveted 18-34 age demographic. Barstool counts nearly 2 million followers on Twitter and more than 7 million followers on Instagram among its “Stoolies.”
In 2016 Barstool hired Erika Nardini, who was previously the Chief Marketing Officer of AOL, as its CEO. Before being hired, she was “hugely passionate about the site for a long time.” Prior to AOL, she had senior positions at Microsoft, Yahoo!, Fidelity and Demand Media, where she oversaw media management for corporations such as Volkswagen, Goodyear and Royal Caribbean.
On January 29th, 2020, Penn National Gaming (NASDAQ:PENN) announced it was taking a 36% stake in Barstool, valuing the company at $450 million...
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