What is the name of the company?
What problem does this solve?
We felt that when we played daily fantasy sports, it wasn’t nearly as engaging as season long fantasy sports. At the same time, we believed that daily fantasy sports never provided users or just sports fans in general the tools they needed to follow sports, which lead us to our vision.
Our vision is to create an all encompassing fantasy sports platform that would bridge the gap between sports fans and fantasy sports fans. Our true outreach is both season long fantasy players and daily fantasy players, at a lower cost to the user. We want our users to have an extraordinary experience through following their favorite teams, crafting their unique lineups and monitoring real-time statistics. Our users should never have to leave our site to monitor their favorite team, research their fantasy selections for next week, or follow the game, through this we believe that we can deliver something truly special.
What is the full launch/release date planned?
Stay tuned for updates! We are targeting a full launch by August 1st. This will allow for users to enter contests for week 1 of the NFL regular season.
Who is on the team?
What is the tech?
We are currently using a number of web based technologies for our platform. We have proprietary algorithm for fantasy player salaries; at the moment this is not under legal intellectual property. We are continuing to develop math based calculations to further advance our robust database of information.
What is the size/scope of your market and how will you scale?
Currently, there are approximately 56.8 million fantasy sports players. This number includes both markets of daily fantasy sports players and season-long players. At RedraftHero, we are tailored to both markets. We can reach our dual-market audience through the outstanding fantasy experience on RedraftHero.com and through direct sports media / athlete interaction.
What is your revenue model?
There is a small fee on top of each buy-in for every cash league. Our fee structure is the most competitive in the industry. 50 Million Americans currently participate in fantasy sports leagues with over $2 Billion spent annually on fantasy sports, not including money wagered on actual leagues themselves (FSTA.org).
What is your greatest strength?
Understanding what our users want. We are huge fantasy sports fans and want our users to have an all encompassing experience. We aspire to provide sports fans, casual fantasy sports fans, and fantasy sports fans to unite together.
What is your biggest weakness?
Resources, without a doubt. We have so many ideas on how to make fantasy sports great. However, we would really enjoy more like minded people, like ourselves, to contribute to our mission and transform the way people view fantasy sports.
What is one resource you could use that would take this to the next level?
We would appreciate a well experienced investor that could help guide us through the ups and downs of the industry. Having a mentor would be ideal. In addition, a strong media partner could really take our ideas, functions, and experience to the next level. Right now, we feel like we are on the right path and are working hard to master our craft.
Is there anything else you would like to add?
We encourage feedback and would love to interact with our users or potential users. If you have any immediate questions, concerns or feedback, please reach out to us via email at [email protected]