A perfect example of very solid execution. Well done! Draft Day was in no way an original idea. There were sites like FanDuel and 1 or 2 others I can't recall that launched before them. But you guys were able to blend in your poker backgrounds and experience that ultimately gave your users a much better user experience overall.

Congrats again!

1. How much % did you give up for 1M?

2. What was Draftday's valuation? What variables did you use to come up with this number? Users growth, revenue, etc?

3. Is DD profitable yet?

4. Why not Silicon Valley VCs?

Thanks for doing this. Please PM me if you don't want them to be public.

One more.

What's the gender distribution at DD?

From my research, 20% of fantasy sports players is female but that seems a little high.

Thanks!

Congrats! Great news for you.

Out of interest, how much of the $1m is/was spent in fees? I've heard from a good source it can cost up to 20% of the VC money

congrats, this is great

To be clear, we aren't the biggest site. I think there are about 12-15 sites and I think we are the third biggest. I think we are the best and I hope we are eventually the biggest. Execution is everything.

CardRunners wasn't the first poker training site and Hold'em Manager wasn't the first poker software company. Execution!

1. Not going to say

2. At the seed stage, it's mostly just a "feel" process. We had some traction, but we were only a few months old (this investment was actually made a few months ago, we are just announcing it now).

3. Nope

4. It felt right, plus I like having an investor that is closer. For future rounds (if necessary), we're open to whatever.

I'd guess about 85-90% male.

About 20-25k in legal fees in total. Not too bad, but still frustrating. Just the cost of doing business.

"Caby said DraftDay plans to put its new funding toward product development, marketing and advertising"

Can you give us a look percentage wise at how you will be breaking down the funding into the three categories above? Also, what do you feel is the most important area of DD to grow or improve on moving forward? At DD's core, what do you think separates or will separate DD from the current #1/2 sites after getting this funding?

"Caby said DraftDay plans to put its new funding toward product development, marketing and advertising"

does this include a potential loyalty/fpp/rakeback program? i love the site but this is the one thing currently holding me back from putting in a lot of volume in fields full of regulars.

sick, grats

A lot of people have an idea, and maybe some money, but no technical background to design/program their web site idea.

What do you think is the best way to proceed for such person?

Also, congrats. Saw this on Venture Beat. Positive review, though they did say you promo video/advertisement is sexist.

We took the funding at the end of last year, just announced it now. We've been using it mostly for product development but will start to shift more towards the other areas. Going forward i'd guess they'll be split pretty evenly.

At the core, people want a fun game, good user experience, and they want to like the brand and people behind it. We really understand gaming and we understand building communities. There just aren't that many people who know what it's like to gamble (play poker) for a living but also understand building web businesses. You have to create a good balance for your users -- the sharks and fishes have to swim together and both enjoy it. I feel very confident about my ability to manage that ecosystem. In the end, the same things that differentiated poker sites will differentiate daily fantasy sports sites -- prizepools, software, customer support/experience, and marketing/advertising.

i feel good about our chances but we've got a lot of work ahead. i'm excited.

it's something we're thinking about. rakeback -- almost for sure no. loyalty program, almost for sure yes. i totally get where you are coming from on this, i'd be saying the same thing if i was in your situation but the reality is the market is so small i think it's better for us to focus now on things that will grow industry awareness than to cater to the 5-10% of customers who actually are price sensitive.

rakeback/loyalty (on a big scale) didn't start in online poker until 04 or 05, well into the boom. there were millions of people playing at this point. we're talking about maybe 10k active real money daily fantasy players right now, i think this makes more sense from a business perspective when the market is 5-10x its current size.

we'll do a reload bonus at some point this spring, my guess is we'll do one in 6-8 weeks, that's effectively 50% rakeback when you have a bonus. for those that don't know, all new account signups get a 20% deposit bonus, it's not poker sized, but at least it's something.