According to various Reports on the Wall Street, Google Inc (NASDAQ GOOG) has finalized a deal to acquire dominant game-streaming player Twitch. Sources close to the deal say the search giant has agreed to pay more than $1 billion for Twitch.
The latest rumor has Google buying game-streamer Twitch for $1 billion. The source would not reveal much more other than to say that Twitch investors who participated in past funding rounds are happy that they will be receiving returns that are multiple times the amount they originally invested. Both Google Inc (NASDAQ GOOG) and Twitch refused to comment.
Adding Twitch to YouTube would instantly make Google a major player in the video streaming sector. Google acquired YouTube in 2006 for $1.65 billion. The search giant’s YouTube division is reportedly in charge of the acquisition, and the deal could mean a transformation of YouTube’s business.
Google Inc (NASDAQ GOOG) News: Acquisition of Twitch
Twitch — based in San Francisco — was founded back in the summer of 2011 by Justin Kan and Emmett Shear, the cofounders of Justin.tv. The business model was to host livestreams, or real-time videos of an event. Shear is CEO of Twitch. Twitch has had venture capital rounds totaling $35 million from Bessemer Venture Partners, Alsop Louie Partners, WestSummit Capital, Take-Two Interactive Software, Thrive Capital, and Draper Associates.
Twitch lets people broadcast their own gameplay sessions on the PC, Xbox One or PlayStation 4 to other online viewers. The service makes it possible for both competitive gamers and regular players to become temporarily famous by entertaining viewers, who can number in the millions. Twitch represented 1.35% of all Internet traffic in the month of March, according to Sandvine.
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Google Inc Financial News (NASDAQ GOOG)
Another billion dollar deal in the sector especially from Google Inc (NASDAQ GOOG) underscores the value of live Internet streaming, and the increasing popularity of competitive gaming as a spectator sport. Competitive gaming today attracts millions of viewers, offers multi-million dollar prize pools forplayers, and provides a multi-billion dollar bonanza for advertisers.
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