• Loading stock data...
Wednesday, July 16, 2025

Niantic Raises $300M to Build Metaverse

  • Niantic has raised $300 million.
  • The software development company will use the money to build a metaverse.
Niantic/Design: Alex Brooks

Niantic, the creator of augmented reality gaming hit “Pokémon Go,” has raised $300 million, valuing the company at $9 billion.

The California-based company will use the money from tech-focused investment manager Coatue to build the “real-world metaverse.”

“You could call it the ‘real-world metaverse’ to distinguish it from the virtual video game version,” Niantic founder and CEO John Hanke said last month. “I think we are just going to experience it as reality made better: one infused with data, information, services, and interactive creations.”

Niantic adds to a growing list of tech companies building metaverse apps, which are projected to reach over $3 billion in consumer spending in 2022.

  • Microsoft announced an integration with its office-focused Microsoft Teams software and metaverse platform Mesh with an eye toward gaming.
  • Disney CEO Bob Chapek said he envisions building a metaverse using streaming service Disney+ as a platform.
  • Nike partnered with Roblox to build Nikeland, a virtual playspace featuring courts, arenas, and product showrooms with digital shoes and apparel.
  • Epic Games is building a metaverse with a goal to reach 1 billion users, citing its potential to be a “multi-trillion-dollar part of the world economy.”

Last month, Niantic generated $62 million in revenue from its mobile apps, with $29 million coming from iOS and $33 million from Android.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Brittney Griner and Caitlin Clark
exclusive

‘Good Morning America’ Will Air From WNBA All-Star in First

The All-Star Game’s relevance has exploded with the league in recent years.
WNBA

Portland WNBA Team Will Be Fire, Bigger Choices Loom

The WNBA’s 15th franchise is bringing back the Fire.
exclusive

Fox Promotes Allison Williams to Laura Okmin’s Former NFL Sideline Role

Williams left ESPN in 2021 after declining to be vaccinated for COVID-19.

F1’s ESPN-Apple Dilemma Could Come Down to Reach vs. Money

MLB and MLS games on Apple TV+ have not drawn huge audiences.

Featured Today

May 31, 2025; Philadelphia, PA, USA; Sydney McLaughin-Levrone (USA) reacts before the women's 100m hurdles during the Grand Slam Track Philadelphia at Franklin Field
exclusive

Track’s New Money Is Running Into Old Problems

The sport’s big-money era has hit some speed bumps in 2025.
Bobbleheads are seen at Vintage Indy Sports, Tuesday, April 29, 2025 in Speedway. The local sports memorabilia store opened recently.
July 12, 2025

Baseball’s Bobbleheads Are the Center of the Collectibles Universe

Baseball’s most important keepsake drives long lines—and big business.
Rimouski, QC - JUNE 1: Final Game of the 2025 Memorial Cup between the Medicine Hats Tigers and the London Knights on June 1, 2025, at the Colisée Financière Sun Life in Rimouski, Qc.
July 11, 2025

CHL Is Facing a ‘Pandora’s Box’ of Questions Amid NCAA Talent Departure

As players defect to college, the Canadian Hockey League won’t cede ground.
Jun 28, 2025; Arlington, Texas, USA; Seattle Mariners catcher Cal Raleigh (29) bats during the game between the Texas Rangers and the Seattle Mariners at Globe Life Field.
July 9, 2025

The Torpedo Bat Business Is Still Going Strong: ‘Here to Stay’

Demand for the oddly shaped bats has stayed strong across the sport.

Thunder Favored, but Bettors Backing Pacers Big in NBA Finals

The most bet-on exact series outcome is the Thunder winning in five.
Fanduel
March 4, 2025

FanDuel Retains Sports Betting Crown With $14B in 2024 Revenue

The FanDuel parent company posts big increases in revenue and net income.
May 8, 2025

FanDuel Misses Projections As Betting Favorites Dominate 

FanDuel is hit by customer-friendly betting outcomes during March Madness.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Dealmaker Jeffrey Kaplan maps the evolution of sports as an asset class
February 20, 2025

Americans Bet $148 Billion on Sports in 2024, Up 23.6%

Both overall handle and revenue rose by more than 20% last year.
DraftKings app
February 14, 2025

Lawsuit Says DraftKings VIP Program ‘Preyed On’ Gambling Addicts

The company’s being sued for negligence and intentional infliction of emotional distress.
August 20, 2024

Beloved ‘Backyard Sports’ Brand Says It Will Relaunch After Decade Hiatus

“Backyard Baseball” was a turn-of-the-century computer hit. 
DraftKings
August 2, 2024

DraftKings Announces Consumer Tax Starting Next Year

The company’s stock fell 5% Friday morning.