Morse Serves as Counsel to Wagr in Acquisition by Yahoo SportsMay 02, 2023
Morse is pleased to announce the successful acquisition by Yahoo of Morse client Wagr, a peer-to-peer sports betting app focused on making gaming social and accessible. The acquisition of Wagr augments and accelerates Yahoo Sports’ vision to create and deliver the most compelling fantasy and gaming products.
Wagr was the first social sports betting operator to receive a license in the United States. They bring extensive experience in social mobile app development, user experience, and community driven games. Since inception, Wagr has attracted significant funding from notable investors including Seven Seven Six, led by Reddit co-founder Alexis Ohanian; Greycroft; Pear VC; the Kraft Group, owners of the New England Patriots and New England Revolution; Harris Blitzer Sports & Entertainment, owners of the Philadelphia 76ers and New Jersey Devils, and BITKRAFT Ventures.
“It is particularly rewarding to have served as counsel to Wagr through its earliest stages of growth, through its institutional financing round and ultimately its transformative exit,” said Mike Jabbawy. “Morse is proud to have been on the front lines navigating the twists and turns to achieve such a great outcome for our client. We will be rooting for you in this next phase of growth under the Yahoo brand.”
Mike Jabbawy, Rick Cocci, and Ryan Whelpley served as corporate counsel to Wagr in this transaction with support from Morse specialists Rebecca Alperin (ERISA), Mike Cavaretta (IP), Dave Czarnecki and Joe Hunt (tax), Matt Mitchell (employment), Ryan Perry and Kevin Olson (data privacy).
Morse focuses exclusively on the core legal services that businesses need to succeed, helping businesses of all sizes — from startups to Fortune 1000 companies — in the service areas of corporate, intellectual property, licensing, employment, taxation and litigation. Morse has a vibrant M&A practice representing buyers and sellers in the low- to middle-market marketplace.
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