PrizePicks, a leading daily fantasy sports operator in the United States, has announced the appointment of Mike Ybarra as the company’s new Chief Executive Officer, effective immediately. Ybarra will also join the board of directors at PrizePicks, succeeding the company’s founder, Adam Wexler, who will transition to the role of Executive Chairman.
Mike Ybarra’s Appointment as CEO
Mike Ybarra brings over 25 years of leadership and operational experience in technology and gaming to PrizePicks. His most recent role was as President of Blizzard Entertainment, a major player in the gaming industry. Ybarra also has a rich history with Microsoft, where he spent nearly two decades as a Corporate Vice President in various leadership positions within the Windows and Xbox divisions.
Ybarra expressed his enthusiasm for joining PrizePicks, stating:
“I am impressed with the passion, positive energy, and incredible team at PrizePicks and want to thank Adam and the board for this opportunity. PrizePicks is the most exciting company in sports entertainment today, and it’s an honor to join as CEO. I have tremendous respect for the foundation that Adam has built and look forward to working with him and the team.”
Adam Wexler’s Transition to Executive Chairman
Adam Wexler, who founded PrizePicks, will be stepping into the role of Executive Chairman. In this new capacity, Wexler will focus on strategic growth initiatives and continue to support the company’s mission of innovation and customer engagement. Under his leadership, PrizePicks has experienced significant growth, establishing itself as a prominent platform in the daily fantasy sports market.
Wexler commented on the transition, highlighting his excitement for the company’s future under Ybarra’s leadership:
“I am unbelievably proud of what we have built at PrizePicks. Through our culture of constant innovation and having a player-first mindset, PrizePicks has achieved explosive growth. Attracting someone with Mike’s background is a true testament to our legitimacy and success to date, and it is a great honor to partner with him. Mike’s track record of introducing fan-favorite games, driving development initiatives, and scaling large customer bases will propel us to new heights.”
Board’s Support and Vision for the Future
Jon Hallett, a member of PrizePicks’ Board of Managers, also expressed his gratitude to Adam Wexler for his relentless dedication and significant contributions as the company’s founder. He noted the impressive growth and momentum that PrizePicks has achieved under Wexler’s leadership, setting the stage for a new phase in the company’s journey.
“On behalf of the entire board, I would like to thank Adam for his tireless contributions as PrizePicks’ founder, building this organization into one of the leading fan engagement platforms from the ground up. Under his tenure, PrizePicks has experienced a period of remarkable growth and enters this transition with an incredible amount of momentum and strength. Mike Ybarra is the right leader for the next phase of the company’s journey, and we are pleased that he will be partnering with Adam to unlock future expansion opportunities,” Hallett stated.
PrizePicks’ Growth and Market Expansion
Since its inception, PrizePicks has distinguished itself in the crowded daily fantasy sports market by focusing on a player-first approach and fostering a culture of innovation. This strategy has enabled the company to attract a significant and loyal customer base, driving substantial growth and expansion. The company has recently received an operating license in New Hampshire, further cementing its position as a leader in the industry.
Looking Ahead: Strategic Vision and Leadership
With the new leadership team in place, PrizePicks is poised for continued expansion and innovation. Mike Ybarra’s extensive experience in gaming and technology is expected to play a crucial role in driving the company’s next phase of growth. His background in developing popular games and scaling large customer bases aligns well with PrizePicks’ goals of enhancing user experience and broadening its market reach.
The board, alongside Ybarra and Wexler, is committed to exploring new opportunities and initiatives that will further solidify PrizePicks’ standing as a top player in the sports entertainment sector.
The appointment of Mike Ybarra as CEO marks a significant milestone for PrizePicks. With a proven track record in leadership and a strong foundation laid by Adam Wexler, the company is well-positioned to capitalize on future growth opportunities. As Ybarra steps into his new role, the focus will be on continuing to deliver innovative and engaging experiences for fantasy sports enthusiasts, while exploring new markets and expanding the company’s footprint in the sports entertainment industry.