NEW YORK--(BUSINESS WIRE)--Function(X) Inc. (Nasdaq:FNCX), formerly DraftDay Fantasy Sports Inc. (Nasdaq:DDAY) has completed a transaction to rebrand itself as it focuses efforts on its social publishing business. The change in name reflects the company’s commitment to social publishing as it evaluates the exciting fantasy sports business.
As previously announced, Function(X) is acquiring Rant Inc., which complements its existing Wetpaint publishing business and immediately expands into sports, lifestyle, and entertainment verticals. In their best months combined, Wetpaint and Rant have received over 50 million monthly visitors to their properties. The combined properties currently have approximately 15 million fans on their Facebook pages and generate up to 300 million video views per month. Wetpaint and Rant will have an editorial team of 30 writers and will be able to draw upon content from more than 400 pre-screened writers.
Rant, Inc. is a leading digital publisher that publishes original content in 13 different verticals, most notably in sports, entertainment, pets, cars and food. Rant has delivered up to 11 monthly visits per visitor across its network, twice as much as industry leaders Buzzfeed and Vox in some months. Adweek reported that Rant’s flagship RantSports.com property was ranked #1 by Quantcast for target digital ad buying for the 2015 holiday season, indicating the power of reaching a targeted audience.
Wetpaint (Wetpaint.com) is the fastest growing entertainment news destination for millennial women. Covering the latest in television, music, and pop culture, Wetpaint reaches over 10 million entertainment enthusiasts on a monthly basis. Armed with our proprietary and patented Social Distribution System (algorithm), the Wetpaint editorial team publishes and socially optimizes more than 60 pieces of content daily. With over 10 million followers on Facebook, Wetpaint shows up within social feeds and drives traffic to the website.
About Function(X) Inc.
Function(X) operates Wetpaint.com, the leading online destination for entertainment news for millennial women, covering the latest in television, music, and pop culture. Function(X) Inc. is also the largest shareholder of DraftDay Gaming Group, which is well-positioned to become a significant player in the explosive fantasy sports market, offering a high-quality daily fantasy sports experience both directly to consumers and to businesses desiring turnkey solutions to new revenue streams. Function(x) Inc. also operates Choose Digital, a digital marketplace platform that allows companies to incorporate digital content into existing rewards and loyalty programs in support of marketing and sales initiatives.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements involve inherent risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. All information provided in this press release is as of the date of this release. Except as required by law, Function(X) , Inc. undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.