Picklive to float on AIM

Fantasy football firm PickLive announced its plan to pursue a listing on London’s Alternative Investment Market (AIM) today.

The company said it plans to raise GBP 5 million effectively valuing PickLive at GBP 10 Million. It will look to utilise the funds for the development of a B2B offer in which it would partner with betting operators or media partners who already have a large scale audience while also focusing on the B2C sector by ramping up marketing spend to attract new players to its existing brand.

“Picklive offers investors’ access to a business with an early mover advantage in the UK,” said David Galan, chief executive officer of Picklive. “In the US we have a strong partnership with Sportech, where we have recently launched our American football and baseball game.

“We believe that this is the opportune moment to seek a listing on Aim to accelerate the company’s growth, drive Picklive’s highly-scalable proprietary technology platform and develop global appeal.

“The group aims to be a global daily fantasy sports operator with a footprint in the UK, Europe, US, Africa and Asia.”