Envy Gaming has brought on Adam Rymer as its new CEO, with an official start date of July 13. Rymer will lead business initiatives for Envy as it expands its operational offerings in esports with a focus on digital media, merchandising, and content creation. Additionally, Mike Rufail will leave the position of CEO to take […]
Sony Corporation has agreed to make a strategic investment of $250M USD in Fortnite developer Epic Games. The investment is being made through “a wholly-owned subsidiary of Sony” and will give the Japanese entertainment conglomerate a minority stake in Epic Games. The investment will be used to “broaden their collaboration” across Sony’s “portfolio...
Indian digital entertainment and technology company JetSynthesys has received an investment of ₹3B INR ($39.9M USD). JetSynthesys is a part of the Navani family owned JetLine Group, which is headquartered in Pune, India, and has a presence in Japan, the U.S., Europe, and India. The infusion of capital will be used to deepen its global […]
Sponsorship brokerage platform Athlane has received a $3.3M USD seed investment. Participants in the financing round included Y Combinator, The Kraft Group President Jonathan Kraft, Fenway Sports Group President Michael Gordon, Global Founders Capital, Romulus Capital, and Seabed VC. The company, which was founded in 2019, secured its first investment...
Brazil came to reach the top of the Counter-Strike: Global Offensive (CS:GO) scene with great players. The highlight is undeniable and is marked in the history of esports, but little is known about the national CS:GO scene in the international media. Even Brazillian team FURIA eSports is based in the United States, while the famous […]
French esports organization MCES (MonClub Esport) announced that it has raised a €2.5M EUR ($2.8M USD) Series A investment to support the company’s growth and international expansion. The investment, which was closed in May, was funded by regional co-investment fund Région Sud Investissement, Los Angeles-based soccer event company Lab Five, and more...
Overwatch League this past weekend saw its best peak viewership for a game since the opening weekend of the season, as the San Francisco Shock–Paris Eternal matchup garnered a high of 91K viewers. The Activision Blizzard-owned property switched this year from Twitch to YouTube, and viewership so far has been off from the peak of […]
Game developer Psyonix has partnered with IMG, giving the global sports management company the authority to serve as the licensing agent for the video game Rocket League. While financial details of the deal were not released, IMG will enter into a multi-year agreement, with a spokesperson telling The Esports Observer that, “IMG will be working […]
The U.S. Small Business Administration (SBA) released data on roughly 5M Paycheck Protection Program (PPP) loans on Monday, revealing that several esports companies were approved for loans. The PPP, which has an interest rate of 1%, is a loan created to provide a direct incentive for small businesses to keep their workers on the payroll […]
Tactical shooter VALORANT has been out for just over a month, and to no one’s surprise, professional esports teams are already cementing themselves in its burgeoning competitive scene. According to a variety of sources, the average salary for a full five-player team can range anywhere from $15K USD to over $25K a month, depending on […]
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