Twitch is a very famous platform for live video streaming. It was introduced as a spin-off on Justin.TV, in 2011. Twitch leads in live streaming of video games in America with over 15 million active users daily. Keep reading to know more about the net worth of Twitch in 2018.
Twitch was launched in June 2011 as a gaming spin-off no Justin.Tv, a site that was started back in 2007 by Emmett Shear and Justine Kan. The headquarter of Twitch was in San Francisco. Justin.tv invested $7 million as the starting capital for Twitch, and in 2012, Venture capital boosted it with $15 million and another $20 million in 2013. The company started making a profit in 2013. It also became very popular with over 43 million viewers monthly.
Growth & Operations
The company started experiencing more growth and in 2014, its parent company Justin.tv was renamed to Twitch Interactive as a sign of its services prominence in the company. The numbers of the channel viewers were now growing quickly, and it reached 6.5 million by February of the same year. The channel was later to be bought by Google for $1 billion through YouTube, but the deal was called off.
Amazon.com acquired the company at the cost of $970 million in September 2014. Twitch expanded their network by acquiring GoodGame Agency and later in August 2016 they acquired Curse, Inc. They also introduced several services in their channel, and all this led to getting more and more fans in live streaming of games.
Today, Twitch operates as a subsidiary of Amazon.com. The current CEO is Emmett Shear. As the years passed by, Twitch became very successful with millions and millions of viewers on a daily basis. It was once ranked among the top five sources of internet traffic in America during peak times. In 2017, Blizzard Entertainment and Twitch signed a deal for Twitch to be the exclusive streamer of their eSport Championships. Later that year, Twitch acquired ClipMine which was a platform for video indexing.
As part of the company’s achievement, Twitch was the NBA League G games broadcaster from December 2017, and they also acquired the rights in April 2018, to the National Football League. This deal enables fans to get the game packages free of charge.
Net Worth & Earnings
The company currently has a net worth that is estimated to be $5 billion. Their wealth has come from live streaming of games over the years. Twitch has also signed various deals with different big companies which all amount to massive wealth. The company’s net worth is expected to rise further as it is still active in the streaming of gaming videos.
Twitch has over a very short span of time managed to become one of the most famous companies in the gaming industry. As per today, they have the biggest number of viewers among the other gaming companies. Their fans are increasing by the day, and they are already a household name, and we expect much more entertainment from them.