Former Blizzard Entertainment president Mike Ybarra is stepping into the daily fantasy sports space as the newly appointed PrizePicks CEO.
PrizePicks announced the executive hire on Aug. 5 from its Atlanta headquarters. Ybarra succeeds PrizePicks founder and CEO Adam Wexler “effective immediately.”
Wexler will remain with PrizePicks as the company’s executive chairman. Jon Hallett, a member of the PrizePicks Board of Managers, thanked Wexler for his “tireless” contributions.
“Under his tenure, PrizePicks has experienced a period of remarkable growth and enters this transition with an incredible amount of momentum and strength,” Hallett said.
He added:
“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.”
Ybarra arrives just ahead of peak season for daily fantasy sports operators. The NFL regular season begins on Thursday, Sept. 5, when the Kansas City Chiefs host the Baltimore Ravens.
How PrizePicks Works
PrizePicks allows users in 33 states, Washington, D.C., and Canada, to make between two and six guesses on player stats. For example, “Will Chiefs quarterback Patrick Mahomes throw for more or less than 275.5 yards against the Ravens?”
In some states, PrizePicks is banned, or the app only allows peer-to-peer games where users compete against each other. Those states argue that games against the house are too much like prop bets and parlay betting at online sportsbook apps.
PrizePicks frames its contests as pick ’em games with an entry fee — and cash prizes — instead.
About the New PrizePicks CEO
Ybarra draws from more than 25 years of digital and gaming experience. As Blizzard Entertainment president, he was responsible for the company’s entire financial portfolio.
He spent about two decades as a corporate vice president at Microsoft, where he helped lead the Xbox and Windows divisions.
“I am impressed with the passion, positive energy, and incredible team at PrizePicks and want to thank Adam and the Board for this opportunity,” he said in the company’s Aug. 5 announcement. “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.”
Wexler said he is “unbelievably proud” of what he built a PrizePicks. He founded the company in 2017.
“Through our culture of constant innovation and having a player-first mindset, PrizePicks has achieved explosive growth,” he said. “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.”
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