Amazon Snaps up Live Video Startup Twitch for $970M Cash

Monday, 25 Aug 2014 04:52 PM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Amazon.com Inc on Monday said it will buy live-streaming gaming network Twitch Interactive for about $970 million in cash, marking one of the U.S. e-commerce company's largest deals to date.

The move reflects Amazon's mounting investments in original television and gaming content over the last few years as the company branches out into businesses beyond retail.

The deal is expected to close in the second half of the year, Amazon said in a statement.

"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 - from 'The International,' to breaking the world record for 'Mario,' to gaming conferences like E3," Chief Executive Jeff Bezos said in a statement.

Google Inc was previously in talks to buy Twitch, which launched in June 2011, a source briefed on the deal said.

Twitch's format, which lets viewers message players and each other during live play, is garnering interest as one of the fastest-growing segments of digital video streaming, which in turn is attracting more and more advertising dollars.

Twitch raised $20 million in funding last September from game publisher Take-Two Interactive Software and firms such as Bessemer Venture Partners and Thrive Capital.

"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."

© 2014 Thomson/Reuters. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Apple Sees Another IPhone-Fueled Record for Holiday Sales

Tuesday, 21 Oct 2014 06:13 AM

Tim Cook is getting the end-of-year shopping season down to a science.
Apple Inc.'s chief executive officer yesterd . . .

Microsoft Plans to Launch Smartwatch in Weeks: Forbes

Sunday, 19 Oct 2014 19:00 PM

Microsoft Corp. is preparing to launch a smartwatch within the next few weeks that will passively track a user's heart r . . .

Facebook Unfriends Federal Drug Agency

Saturday, 18 Oct 2014 13:13 PM

Facebook wants assurances from the Drug Enforcement Administration that it's not operating any more fake profile pages a . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved