Hitbox is one of Twitch’s main competitors. They’ve made a small splash in the live stream market, but nothing outside the EU. Abzu (E-sports broadcaster) saw the potential in Hitbox & decided to combine resources with them. Our snitch told us that Abzu is looking to expand their E-sports and that’s possible through Hitbox. No exact number was given, but it’s reported that Abzu paid 10’s of millions of dollars for this deal.
“We’re incredibly excited to welcome the talented Hitbox team into the Azubu esports family,” said Mike McGarvey, CEO of Azubu, in a statement. “Over the years, Martin’s team at Hitbox has designed and developed industry-leading esports streaming and platform technology while developing a passionate and dedicated following of millions of competitive gaming enthusiasts. The synergies between our respective companies created a compelling opportunity to join forces and I couldn’t be more excited about leading both teams moving forward.”
Twitch is a juggernaut in the live streaming space, so I’m curious to see if these two can make a dent in their market. The last thing you want is for Twitch to monopolize the market. You see what happening with Youtube. Competition breeds innovation and that’s exactly what these two companies aim to bring to market. Lets see how this one plays out.