Fox invests $100 million in online gaming platform Caffeine

September 5, 2018
Lachlan Murdoch, seen here with his father Rupert, has joined the board of video game streaming company Caffeine

Entertainment group 21st Century Fox announced Wednesday that it has invested $100 million in video game streaming startup Caffeine.

Launched this year by former Apple employees and engineers, Caffeine plans to merge live video gaming, entertainment with social media.

Like YouTube, Caffeine allows users to monetize their content on the platform.

"We want to bring the world together around friends and live broadcasts," Caffeine CEO Ben Keighran said in a statement.

21st Century Fox said it was also creating a new venture called Caffeine Studios jointly owned by Fox Sports and Caffeine.

It said the studio would create e-sports, , sports and live entertainment content.

Caffeine said it has reached an agreement with Live Nation to stream live music concerts on the platform later this year.

Lachlan Murdoch, the executive chairman of 21st Century Fox, joined the board of Caffeine as part of the deal.

"We are excited to partner with Caffeine and build something special for fans in the growing live social streaming esports and gaming space," Murdoch said.

In addition to 21st Century Fox, existing Caffeine investors Andreessen Horowitz and Greylock Partners also took part in the latest funding round.

The firms were among the participants in the first two rounds of $46 million in funding but the amount of their latest contributions was not disclosed.

Live gaming is an increasingly competitive space. Amazon bought the Twitch platform for $970 million in 2014.

YouTube, a Google company, and Facebook have also sought to break into the hot sector and Facebook launched fb.gg for live gaming in June.

Explore further: Facebook out to lure eSports fans with online portal

Related Stories

Facebook gets in game-streaming with Blizzard

June 6, 2016

Facebook on Monday announced that it is getting into the eSports game, jumping into the field of video games as spectator sports against Amazon-owned Twitch and Google's YouTube Gaming.

YouTube Gaming launches as e-sports arena

August 26, 2015

YouTube on Wednesday strode into an arena dominated by Amazon-owned Twitch, with the launch of a service tailored for the hot trend of video game play as a spectator sport.

Recommended for you

Team breaks world record for fast, accurate AI training

November 7, 2018

Researchers at Hong Kong Baptist University (HKBU) have partnered with a team from Tencent Machine Learning to create a new technique for training artificial intelligence (AI) machines faster than ever before while maintaining ...

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.