The number of active job advertisements posted by Fanatics, a sportswear and merchandise retailer, increased by 68%, from 194 in November 2020 to 325 in November 2021*, according to GlobalData. The leading data and analytics company notes that among these listings are a number of roles that show that the company is scaling up ready to make an initial public offering (IPO).

Ajay Thalluri, Business Fundamentals Analyst at GlobalData, says: “Fanatics has been showing signs of IPO preparation since September 2020, when it listed a ‘Director, Technical Accounting & Reporting’ role that notes the successful candidate would be involved in Securities and Exchange Commission (SEC) report preparation. A year on, and the company has listed more roles that provide an insight into its IPO plans. It looks to be preparing its accounting and finance departments to be IPO ready, developing processes, as well as sourcing and implementing appropriate technologies.”

Other evidence includes Fanatics’ search for a ‘Chief Legal Officer’ in November 2021. This role required legal experience, preferably in a private company that scaled by successfully providing guidance for SEC compliance and an IPO. Another role listed in October 2021, ‘SOX Compliance & Internal Controls Manager’, shows that the company is gearing up its accounting and finance department for an IPO.

GlobalData also revealed that Fanatics is developing crypto initiatives for its trading cards vertical.

Thalluri adds: “Fanatics is hiring for its trading cards vertical, which launched in September 2021. According to its ‘Director Product, Crypto’ role, the company is looking for hires to implement product lifecycle for its trading cards. Fanatics landed a deal with major baseball, football, basketball associations and leagues for trading card licenses and raised $350 million fresh capital in September 2021.”

*Data updated to November 25, 2021