Fantasy sports operation Fastpoint Games is now for sale as its direct business-to-consumer games have been shut down and its funders seek an exit.
Formerly known as RotoHog, the five-year-old company over the past two years has focused primarily on building fantasy games on a white-label basis for other media and league clients such as Major League Soccer, NASCAR, Sports Illustrated and Us magazine, among many others.
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ROTOHOG.COM
Kelly Perdew was hired in 2008 but will not stay with the company after it’s sold. |
But the company’s longtime backer, San Diego-based venture capital firm Mission Ventures, has hired Los Angeles investment bank Covert & Co. to lead a sale of the remaining games development assets.
“We started taking a long look at the operation over the summer with our partners, and at this point, Mission is looking for an exit,” said Kelly Perdew, Fastpoint Games chief executive. “We expect to see a lot of interest in the assets. We’ve proven this business can work.”
Mission Ventures executives were not available for comment. A sale is expected by the end of the year.
Perdew, a former U.S. Army Ranger and winner of the second season of NBC’s Donald Trump reality show “The Apprentice,” will not stay with the company after the sale. Hired in 2008 from mixed martial arts website ProElite.com, Perdew was brought in to retool company operations and build its scale.
Having done that, Perdew is beginning to work on several other ventures, including digital media consultancy The DuMont Project, where he will be managing partner; online advertising technology outfit TargetClose, where he is co-founder and adviser; and TroopSwap.com, an e-commerce site that arranges discounts on goods and services exclusively to military families, where he is an investor.
