Gabriele Cipparrone, partner at Apax Partners, is to resign from the board of directors of Genius Sports Limited, effective April 8, 2024.
Apax Funds first invested in Genius Sports in 2018. Since that point, the company has grown considerably, from a revenue of $85m in 2018 to $413m in 2023.
“Genius Sports has been an excellent investment for the Apax Funds, and as the company reaches the three-year anniversary of its successful public listing on the NYSE, I feel confident in its long-term financial and strategic position,” stated Cipparrone.
“I look forward to the continued success of Genius Sports, as the company capitalises on its market-leading position and profitable growth.”
Mark Locke, CEO of Genius Sports, said: “Gabriele, along with the entirety of the Apax team, have been tremendous partners over the six years since their investment and we thank them for the instrumental role they played in our growth and transformation.
“We have spent the last three years as a public company working very hard to cultivate a remarkable group of public equity investors who we are proud to call shareholders in Genius Sports. With further liquidity in our stock, we look forward to continuing to attract and to retain the type of thoughtful and long-term shareholders we are fortunate to call our partners today.”
