Fantasy football startup Sleeper nabs VC funding to take on ESPN – gpgmail


Sleeper is looking to take on fantasy league apps from major players like ESPN and has amassed venture funding from Silicon Valley investors to take them down.

The Bay Area startup is aiming to treat a fantasy football league more like a social platform than a loose jumble of league mechanics, distinguishing itself as a simple and free, ad-free option.

Sleeper has done limited press as it has been ramping up its app over the past two seasons, but the team has been courting the interest of investors to scale the product, raising more than $7 million from VCs to date. The company closed a $5.3 million Series A late last year led by General Catalyst. In early 2017, the startup also closed a $2 million seed led by Birchmere Ventures with participation from Uber co-founder Garrett Camp’s startup studio, Expa.

There isn’t much in terms of monetization options at the moment. CEO Nan Wang tells gpgmail that the focus right now is “amassing a large base of users and making it the stickiest and highest engagement product in the category.”

Wang says the app’s users spend 50 minutes per day on average during the season, numbers he calls “Instagram-like.” The main contributor to that number seems to be that chat is always a swipe away and that all of the actions that are happening during the season show up inside chats to encourage engagement.

This unifies the experience for users, many of whom have had to piecemeal their experience by using a WhatsApp or GroupMe group in addition to the other fantasy league apps that they’ve been using. Sleeper’s more differentiated UI seems to be largely popular among early vocal users as well as the up-to-the-minute notifications that deliver league updates.

Poaching users from other platforms is definitely a priority, but Wang says the team has really been looking at how to nab users who have stayed away from the convoluted confusion of fantasy leagues as well. Taking on the leading apps from ESPN, Yahoo and NFL can be daunting; another stress for the younger startup is just how tight the user acquisition window is, though things compound quickly if you can create one loyal user that brings their entire league to the platform.

“The user acquisition window for fantasy football leagues is strongest from the second week of August until the first week of September. Historically, we’ve seen that about 70% of users create their leagues in that three-week window,” Wang tells me.

The funding has been used to build out its team, which is still just 10 full-time employees, as well as expand their ambitions beyond fantasy football alone into other sports, including basketball and soccer.


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Roku expands its free, live TV selection with 5 more channels, including fubo’s Sports Network – gpgmail


The Roku Channel continues to expand beyond ad-supported movies and premium subscriptions, with today’s announcement of the addition of several more live TV channels available to anyone with a Roku streaming device or Roku TV. The company says today it’s adding five free live TV channels to this offering, including most notably, fubo’s Sports Network.

The fubo Sports Network is streaming service fuboTV’s first-ever TV channel designed for distribution outside its own platform.

Soft-launched this June, fubo produces content for the channel, including original programming, event coverage, behind-the-scenes, and other exclusives. The network is already available to a few streaming platforms, including XUMO, Samsung TV Plus, and LG Channels (powered by XUMO.)

However, distribution to Roku’s popular entertainment hub is a big win for the new channel, given that Roku is now the top streaming device platform in the U.S., with a 39% share of streaming boxes and sticks and a 33% share of smart TV operating systems.

Other new networks arriving to The Roku Channel today include the ACC Digital Network, USA Today, Now This (news), and Comedy Dynamics.

In addition, The Roku Channel now offers the Sports Illustrated streaming service, SI TV, to any interested subscribers through its Premium Subscription lineup.

Roku has been rapidly expanding its Roku Channel hub since it first launched in September 2017 with a focus on free, ad-supported movies — similar to Vudu’s “Movies on Us” or Tubi, for example. But shortly after, the channel began to roll out more content like news, sports, TV shows, and other entertainment offerings both from traditional studios and digital networks. This pushed the channel to become one of the most-watched on its platform.

And this year, Roku launched its own premium subscriptions alongside its free content, allowing The Roku Channel to become not just the place to find free entertainment, but where you tune in to your favorite shows as well. Today, its paid lineup includes top premium networks like HBO, Cinemax, Showtime, Starz, EPIX, and many others.

The decision to invest in its own content hub gives Roku a powerful selling point for its devices — and that appears to be paying off with consumers and in terms of the company’s bottom line.

Roku recently closed out its second quarter with 30.5 million active accounts, up by 1.4 million from the prior quarter, and average revenue per user up from $19.06 in Q1 to $21.06 in Q2. Revenue was also up 45% year-over-year to $252.5 million.

 


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