Wagr
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Wagr was a Nashville-based social sports betting app founded in 2020 by Mario Malave and Eliana Forte. It let users place real-money peer-to-peer wagers against friends and community members rather than a traditional sportsbook, billing itself as the first licensed social betting operator in US history.
02 / Wagr FAILURE REASONS
Failure factors supported by the current evidence
Wagr did not survive as a standalone company. Its app shut down in the fourth quarter of 2022 while operating in Tennessee, and in April 2023 Yahoo acquired the company and fully integrated it into Yahoo Sports, ending Wagr as an independent entity. No public statement disclosed why the standalone business was wound down.
03 / EVENT HISTORY
Events in the structured record
- Company founded
Mario Malave and Eliana Forte found Wagr in Nashville, a peer-to-peer social sports betting app born from a class project.
- Peak funding round
Wagr raises a $12 million Series A led by Seven Seven Six, with Greycroft, BITKRAFT, the Kraft Group and Harris Blitzer Sports & Entertainment, bringing total funding to about $16 million.
- Acquisition
Yahoo acquires Wagr in April 2023 and fully integrates it into Yahoo Sports; Wagr ceases to exist as a standalone entity.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Peer-to-peer social sports betting app from Nashville
- 02
First licensed social betting operator in US history
- 03
App shut down in Q4 2022
- 04
Acquired by Yahoo Sports in April 2023; standalone ends