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You'll never believe what Amazon picked up for nearly $1 billion

By Catholic Online (NEWS CONSORTIUM)
8/25/2014 (3 years ago)
Catholic Online (www.catholic.org)

Tech giant beat out Google and Yahoo for coveted video game website

Defeating tech rivals Google and Yahoo, Amazon purchased the live-streaming gaming network Twitch for $970 million in a move announced late on August 25 which is the largest deal in Amazon's 20-year history.

Tech giant Amazon purchased the live-streaming gaming network Twitch for $970 million, beating out several rival competitors including Google.

Tech giant Amazon purchased the live-streaming gaming network Twitch for $970 million, beating out several rival competitors including Google.

Highlights

By Catholic Online (NEWS CONSORTIUM)
Catholic Online (www.catholic.org)
8/25/2014 (3 years ago)

Published in Technology

Keywords: US, Technology, Amazon


LOS ANGELES, CA (Catholic Online) - The firm raised $20 million in funding in September 2013 from game publisher Take-Two Interactive Software and firms including Bessemer Venture Partners and Thrive Capital.

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Twitch's format lets viewers message players and each other during live play, and has gained interest as one of the fastest-growing segments of digital video streaming. Which has attracted even more advertising dollars.

More than 55 million unique visitors viewed more than 15 billion minutes of content on Twich in July alone.

"Broadcasting and watching gameplay is a global phenomenon and Twitch has built a platform that brings together tens of millions of people who watch billions of minutes of games each month," said Jeff Bezos, chief executive of Amazon.

Investors noticed Twitch's rapid growth, up from 3.2 million players when it initially launched in 2011. Some of its most-followed players take in six-figure salaries through a 50-50 split in advertising revenue, $5 monthly subscriptions to live-streaming channels, and even spontaneous donations from fans.

"We're keeping most everything the same: our office, our employees, our brand, and most importantly our independence," Emmett Shear, CEO, said in a blog post. "But with Amazon's support we'll have the resources to bring you an even better Twitch."

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