• Loading stock data...
Saturday, March 15, 2025
Nominations Are Open for Front Office Sports Honors! Submit Now

GameStop Raises Over $1B for E-Commerce Push

  • GameStop issued shares directly to the public market, leveraging its Reddit-fueled stock price to raise over $1 billion.
  • The company is in the midst of a pivot to e-commerce.
Design: Alex Brooks

GameStop has big plans, and it’s loading up on funds to make them happen.

The video game retail company raised $1.13 billion after selling an additional 5 million shares as it accelerates its online pivot. 

The company used an at-the-market offering, releasing the shares directly onto the public market instead of the standard play of offering them to institutional investors. 

  • That’s only fitting for GameStop, which owes much of its growth – 1,150% from the start of the year to market open on Tuesday – to Reddit’s wallstreetbets forum and other retail investors.
  • GameStop will use the funds to shore up its balance sheet and continue its quest to become the “Amazon of gaming.”

That charge is being led by new chairman Ryan Cohen, who sees the gaming industry growing to more than $200 billion per year in 2023.

The stock offering coincided with CEO Matt Furlong’s first day on the job and placement on the board on Monday. He is a former Amazon executive, as are the company’s chief operating, technology, and growth officers — all of whom have joined this year

GameStop’s massive growth in stock price has come at the expense of short sellers. London-based hedge fund White Square Capital is shutting down after taking losses from shorting GameStop.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

San Diego Wave FC falls to Orlando Pride at Snapdragon Stadium in San Diego, CA on April 29, 2023.

The New Tailored Approach to Women’s Sports Uniforms

For new women’s sports leagues, every detail is custom.
Iowa Hawkeyes guard Caitlin Clark (22) cuts down the net after beating LSU in the Elite 8 round of the NCAA Women's Basketball Tournament between Iowa and LSU at MVP Arena, Monday, April 1, 2024 in Albany, N.Y.
opinion

Reader Mailbag: Leagues Need Must-Watch Moments

Readers responded to NHL success and what it means for other leagues.
Moolah Kicks

Breaking the Mold: The Brands Designing Footwear Specifically for Female Athletes

New companies are laser focused on changing the women’s athletic footwear landscape.
WEST PALM BEACH, FL - FEBRUARY, 22: Houston Astros play the Washington Nationals in Spring Training at Cacti Park of the Palm Beaches on February 22, 2025 in West Palm Beach, FL. (

Astros Strength Coach Stephanie Grubbs Is Building an ‘Arsenal’ of Skills

The MLB team’s first female coach talks to FOS about her trajectory.

Featured Today

Lia Thomas of University of Pennsylvania competes in the finals of the 200 yard freestyle during the Women s Ivy League Swimming and Diving Championships at Harvard University.

One Group Is Funding the NCAA Transgender Ban Lawsuits

ICONS is funding three major lawsuits against schools, conferences, and the NCAA.
Jan 13, 2025; Glendale, AZ, USA; Los Angeles Rams quarterback Matthew Stafford (9) reacts after the NFC wild card game against the Minnesota Vikings at State Farm Stadium.
February 28, 2025

High-Priced QB Carousel Takes Center Stage at NFL Scouting Combine

The attention in Indianapolis was on veteran signal-callers and their multimillion-dollar movements.
Oct 6, 2024; Tottenham, ENG; Tottenham Hotspur Chairman Daniel Levy is pitch side before kick off for the New York Jets against Minnesota Vikings at Tottenham Hotspur Stadium
February 28, 2025

Tottenham Hotspur Chairman Doesn’t Want to Relinquish Control

Spurs have drawn attention from new investors for 18 months.
February 28, 2025

The Total Takeovers That Transform Minor League Teams for a Night

Lumberjacks, pierogies, and more: How teams build outrageous fan nights.
Billie Jean King
February 13, 2025

Billie Jean King: ‘Billionaires, Not Millionaires’ Are Fueling Women’s Sports Boom

Billie Jean King wants more women involved in team ownership, too.
February 14, 2025

DraftKings Turns First Full-Year Profit, Stock Up 47% in 2025

The company’s sports betting business continues to grow despite headwinds.
Sponsored

How UBS Crafts Impactful Partnerships Across Sports, Arts, and Culture

As UBS continues to expand its impressive array of sports and entertainment partnerships, the company solidifies its position as a leader in wealth management.
February 5, 2025

Under Armour’s Desired Turnaround Sees Sparks With Q3 Earnings Beat

The 2010s darling has been struggling to find the right formula.
Russ Brandon
January 14, 2025

UFL President: NFL Used to View Private Equity Like Gambling 

The longtime NFL executive is stunned by the league’s evolution on PE.
October 24, 2024

Endeavor, TKO Consolidate Sports Assets, Hoping They’re Better Together

The move brings On Location, Professional Bull Riders, and IMG under TKO.