-100%

est. 2Y upside i

Series B

Rank

#3799

Sector

Gaming, Sports, Web3

Est. Liquidity

~5Y

Data Quality

Data: Low

Given the stale 2021 valuation of $4.3B on declining revenue of $69M, the equity is projected to have -100% expected upside due to preference stack and negative growth.

Last updated: July 21, 2026

Bull (10%)-100%

Bull case assumes an IPO window lifts exit multiple to 10x, but projected revenue of $56M yields $562M exit, below $769M liquidation preference, resulting in 0% common recovery.

Base (45%)-100%

Base case assumes exit multiple of 5x, exit value $281M, still below liquidation preference; common stock recovers nothing.

Bear (45%)-100%

Bear case assumes multiple compresses to 2x, exit value $112M, well below $769M preference; common stock worthless.

Est. time to liquidity~5.0 years

Preference Stack Risk

moderate

Funding Intensity

18%

Total funding of $769M represents 18% of last round valuation, but because revenue is declining, future exits likely below this amount, making preference a significant risk.

Dilution Risk

high

Company is unprofitable and burning cash; likely needs to raise further capital, diluting existing shareholders.

Secondary Liquidity

none

No secondary market activity observed.

View all 3 open roles at Sorare →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on Sorare's data — designed to show you've done your homework.

  • 1

    “How would you prioritize between expanding into new sports leagues and deepening engagement with existing users?”

  • 2

    “What are the key unit economics of a digital card pack?”

  • 3

    “Given the financial situation, how do you think about the risk of your equity stake being diluted in a down round?”

Community

Valuation Sentiment

Our model estimates -100% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.