Guild Esports has raised £20M ($25.71M USD), according to a Reuters report. The esports organization said Tuesday that its oversubscribed offering of 250M shares was priced at 8 pence (.10) per ordinary share. The company plans an initial public offering (IPO) via the London Stock Exchange Friday.
With its IPO on the London Stock Exchange, the company is looking to raise £20M (roughly $26M USD) at a valuation of £50M ($65M) to finance its expansion plans, including recruiting more player talent. The company said in its original IPO announcement that roughly 40% of its shares will be available through the listing.
Much of the investment interest is likely associated with the minority investment of David Beckham, former soccer player and owner of the Major League Soccer (MLS) expansion team Inter Miami CF owner. In June, Beckham acquired “a significant minority stake” in the company through his investment vehicle, DB Ventures, as part of a £5M ($6.5M) private funding round.
For a more detailed exploration of Guild Esports’ IPO plans, check out TEO writer Tobias Seck’s analysis of the company’s plans to go public.
Published at Tue, 29 Sep 2020 15:33:26 +0000
The biggest annual esports event has kicked off. The League of Legends World Championship will run for more than a month, but is already topping the Twitch charts before the top teams have even taken the stage.
On the content side, Among Us continues to dominate, fully overtaking Fall Guys as the latest darling of Twitch. It’s popularity has even created substantial strategy changes for the developer.
Twitch’s Top Channel – Riot Games
In previous years, Riot Games had a stranglehold on the top of Twitch for the majority of the year. However, by separating its major leagues into their own channels, League of Legends esports leagues have only made cameo appearances in the Top 10, rarely broaching the top three.
That all changes for Worlds 2020. The action is back on the main Riot Games channel, and three days of the lowest stakes competition the tournament will have on offer has already brought the channel back to its former glory. Lower level teams and those from minor regions are effectively battling for their right to enter the main tournament, and Riot was able to generate 4.11M hours watched. Now with the tournament ramping up, expect to see Riot Games as a frequent first place contender until the tournament concludes at the end of October.
Twitch’s Top Content – Just Chatting
While Just Chatting has reclaimed its throne after just one week, the fact that Among Us has once again generated nearly 40M hours watched is nothing short of remarkable. In just a few months the game has skyrocketed in popularity with both viewers and players, and shows no signs of slowing down soon.
In fact, Among Us has had such a surge in popularity that it has caused developer Innersloth to entirely change course. The company recently announced that plans for a sequel have been scrapped in favor of committing more resources to the current game. Ongoing support is crucial to a game’s long term sustainability on Twitch, and Among Us is very much the sort of game that will either disappear the moment the fad ends, or find a comfortable home near the top of the platform if it can receive frequent and engaging updates.
Published at Tue, 29 Sep 2020 14:00:39 +0000