Ivey League Ad Seeking to Raise $20 Million a Misunderstanding4 years ago
The poker world received a slight shock yesterday when a prominent business website, Mergernetwork.com, was the host of an advertisement (now removed) that purported to raise US$20 million for Ivey League.
The advertisement, which supposedly aimed to raise the funds to “build out Ivey's personal brand to reach a larger audience,” among other reasons, has since been claimed as a hoax by senior figures associated with the Phil Ivey-owned training site.
Dan Fleyshmann, CEO of Ivey League, has vehemently denied to several online news sources that the company is currently for sale or seeking other investors.
Fleyshmann, who has been the company CEO since November, said that while the business is currently in the process of expanding in a number of areas, they are not aiming to raise $20 million for the expansion.
He also said that the advertisement on Mergernetwork.com, which Ivey League requested be taken down, likely arose through a misunderstanding between the company and the site.
Ivey League officially launched in October 2012 with the aim of offering members poker tips and strategies to “take [their] game to the next level with the best resources and poker strategy available.”
The site gained much hype for some time after it launched, with reports of the website crashing on the day it first became available. While the aim to raise $20 million from external investors is not true, it has renewed interest in the expansion of Ivey League that Fleyshmann stated is currently occurring.
Phil Ivey has been one of the most notable faces in poker over the past decade, having won accolades and prizes in a variety of major poker events.
A major expansion of his company, which Ivey has apparently invested seven figures in, is an indication that the Tiger Woods of Poker is very serious about building a huge and well-regarded gaming brand.
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