Drone Racing League CEO Nicholas Horbaczewski joins Forbes senior writer Jabari Young at the Nasdaq MarketSite to discuss the business of racing drones and update the status of the Generation Z sports startup.
Founded in 2015, Drone Racing League, or DRL, is a sports technology and entertainment startup that hosts yearly tournaments where drone pilots compete for a cash prize. Horbaczewski says DRL will host its ninth season this fall and raised more than $100 million from investors, including publicly traded Liberty Media, WWE, T-Mobile, and Miami Dolphins owner Stephen Ross’s RSE Ventures—the league’s most prominent backer.
“It’s Formula One but with drones,” Horbaczewski tells Forbes, describing DRL. “What we’re doing is hard,” Horbaczewski adds. “It’s a combination of sports, technology, and media. So, our investors represent the best of those industries coming together to build something novel together.”
In the interview, the DRL chief executive explained how he lured notable investors for capital and forecast plans to expand globally.
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