Tencent bought the makers of Warframe this week for $1.5B in cash, and EA outbid Take-Two Interactive to acquire Codemasters for $1.2B. That means 21% don’t care about making extra money? While interesting, I believe we can’t infer too much from this study as the pandemic has created a lot of pent up demand for anything in person, not just esports events.įinally, we continue to see acquisitions of game developers heating up. Perhaps most surprising is that 79% of surveyed event venues said they are interested in hosting competitive gaming. Only 17% of those surveyed have actually been to an event and less than 40% of host venues have hosted esports events. This week also saw the release of an interesting study that claimed that 77% of North American gamers are keen to attend in-person esports events ASAP. Trying to time this perfectly may be a decision they regret, or it may work out. There’s no guarantee that markets will be as strong next year. I think it’s a huge risk and the wrong move. Thus, they are delaying the IPO to be able to restructure and re-price the IPO to get a higher valuation and more dollars in their coffers. They can’t just re-price and keep the same IPO date as institutional investors have been sold on a specific range. Roblox realized that markets are so strong and IPO demand so high, that they would probably leave a lot of money on the table even if they priced their stock at the high end of the range. They announced that the listing would be delayed until early next year. Roblox officials decided that the market debut of Airbnb and DoorDash made it too difficult to determine the right price for the company’s shares. This week, Roblox announced they would be delaying their much anticipated IPO.
In this week’s Business of Esports minute, Roblox IPO Delay, In-Person Esports, and Game Dev Acquisitions.įrom the keyboard to the boardroom, this is the Business of Esports Minute! Every single week, I, Paul Dawalibi, the prophet of esports, will be bringing you my hottest takes from the week, basically everything you need to know about the business of esports all in about one minute. A week of news covering the intersection of business and gaming / esports, all in about one minute – everything you need to know from the “profit of esports” himself.
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