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July 15, 2015

Online Fantasy Sports Operator FanDuel gets US $275 Million in Funding

Time Warner and Google has participated in a US$275 million round of funding in startup FanDuel, led by venture-capital firm KKR and Time Warner Investments, together with Turner Sports.Existing investors Shamrock Capital, NBC Sports Ventures, Comcast Ventures, Bullpen Capital, Pentech Ventures and Piton Capital also participated.The round brings New York-based FanDuel to US$363 million raised to date.Even though FanDuel is currently not profitable, the one-day fantasy sports operator claims paid active users have grown 300% from a year ago.