Business, Investments

Amazon Acquires Video Game Streaming Site Twitch for USD 970M

Google owned YouTube was reportedly in talks to acquire video game-streaming site, Twitch for an amount of  USD 1 billion. But now, Amazon has bought Twitch for USD 970 million, Twitch CEO Emmett Shear announced in a Blog Post.

We chose Amazon because they believe in our community, they share our values and long-term vision, and they want to help us get there faster. We’re keeping most everything the same: our office, our employees, our brand, and most importantly our independence. But with Amazon’s support we’ll have the resources to bring you an even better Twitch.

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See Also: Google’s YouTube Reportedly agrees to acquire Twitch for USD 1 billion

Emmett Shear also wrote:

I personally want to thank you, each and every member of the Twitch community, for what you’ve created. Thank you for putting your faith in us. Thank you for sticking with us through growing pains and stumbles. Thank you for bringing your very best to us and sharing it with the world. Thank you, from a group of gamers who never dreamed they’d get to help shape the face of the industry that we love so much.

San Francisco based, Twitch was launched in 2011 by Justin Kan and Emmett Shear. Earlier it has raised two round of investments in Series C (USD 20 million, Sep. 2013) and Series B (USD 15 million, Sep. 2012). The company is backed by six investors and secured a total funding of USD 35 million, till date.

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It is known as a social video platform and a community for gamers. This includes developers, industry conventions, publishers, media outlets and casual games for charity events.

At present, the company is adopted by 55 million monthly users. Out of these, more than 1 million members uploaded videos each month. It has launched mobile apps for iOS and Android. The company supports live game play videos that can be streamed from playstation 4 consoles and microsoft Xbox.

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