Twitch Has Been Acquired By Amazon For $970M

Virtually every hardcore gamer has heard of, a website dedicated to streaming both amateur and professional video gamers to the masses. The company started out in 2011 as a subsidiary of its parent company (which is now shut down) and has grown rapidly to today in which it serves over 55 million active users each month. The success of the streaming service even resulted Twitch integration within next-gen consoles like Microsoft's Xbox One and Sony's PS4.

With the tremendous growth happening in such a short period, several big name companies had their sights on acquiring the streaming service and rumors were floating around last month claiming Google was planning to purchase Twitch for a whopping $1B. It turns out the rumors were true although complications in the negotiations kept Google from following through with the purchase. Luckily, Amazon was already prepared to swoop in and scoop up Twitch while they still had the chance at an agreed price of $970M.

Emmett Shear, Twitch CEO, posted this letter today on the homepage:

“Dear Twitch Community,

It’s almost unbelievable that slightly more than 3 years ago, Twitch didn’t exist. The moment we launched, we knew we had stumbled across something special. But what followed surprised us as much as anyone else, and the impact it’s had on both the community and us has been truly profound.

Your talent, your passion, your dedication to gaming, your memes, your brilliance – these have made Twitch what it is today. Every day, we strive to live up to the standard set by you, the community. We want to create the very best place to share your gaming and life online, and that mission continues to guide us.

Together with you, we’ve found new ways of connecting developers and publishers with their fans. We’ve created a whole new kind of career that lets people make a living sharing their love of games. We’ve brought billions of hours of entertainment, laughter, joy and the occasional rage quit. I think we can all call that a pretty good start.

Today, I’m pleased to announce we’ve been acquired by Amazon. 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.

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.

It’s dangerous to go alone. On behalf of myself and everyone else at Twitch, thank you for coming with us.”

Regardless of the Amazon takeover, Shear insists Twitch will operate with their original mission and he will remain in the role of the active CEO. Check out the source link below for more details.

Via: Mashable