7GC is thrilled to announce a milestone for our Fund II portfolio - Jackpocket has been acquired by DraftKings. 7GC invested in Jackpocket back in Q4 of 2021 in it's Series D financing round, marking the first successful exit for our Fund II portfolio.
DraftKings Inc. (Nasdaq: DKNG) announced that it has reached an agreement to acquire Jackpocket, the leading lottery app in the United States, for total consideration of approximately $750 million. Jackpocket is the leading provider of digital lottery services in the US allowing users to purchase lottery tickets directly from their phones in 17 states and the District of Columbia. Driven by a powerful combination of scalable tech, a robust brand identity, and an exceptional management team, they have become #1 digital lottery service across the US.
Through this acquisition, DraftKings will aim to expand its product offering, which currently includes online sports betting and iGaming, to online lottery, resulting in a distinctive and robust product suite.
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