Online retailer Fanatics has raised $170m in funding in an Alibaba-led round that will enable it to expand overseas.
US-based online sports apparel retailer Fanatics.com has raised $170m from China-based e-commerce company Alibaba in a round that also featured involvement from Temasek, the Singapore government’s sovereign wealth fund.
Fanatics sells official sports merchandise, providing lines of clothing and memorabilia from all major US sports leagues. The funding has helped lift the sports retailer’s valuation to $3.1bn, double its valuation in 2012.
The new funds will be used to hire additional staff and boost inventory at Fanatics’ recently erected…
