Game publisher Riot Games is set to exit US-based online gamer community and video platform Curse after game livestreaming platform Twitch agreed yesterday to acquire it for an undisclosed sum.
Founded in 2006, Curse operates a network of more than 65 gaming sites covering information, guides, tools and fan communities, overseeing them through its publishing platforms, Cobalt and Hydra.
The company also provides video media content and runs a partnership initiative called Union for Gamers, which helps YouTube content producers monetise their channels without needing to sign restrictive contracts. Its offerings reach around 30 million people each month.
Riot Games invested $30m in Curse in June 2015 as part of $52m the company raised between 2014 and 2015. The money included $10m from venture capital firm GGV Capital and $6m in debt financing from Multiplier Capital.
Curse had previously raised approximately $23.4m from investors including private equity firm Idinvest Partners, which then operated as a subsidiary of insurance group Allianz called AGF Private Equity, as well as SoftTech VC and Ventech.
Emmett Shear, chief executive of Twitch, said: “We’ve long been fans of Curse, which is an innovator in the games industry with a strong culture built around its offerings – from Curse Voice and Curse Client to Gamepedia.
“While it is still early days for Twitch and Curse, we are kindred spirits in many ways and are looking forward to working together to enhance our users’ gaming experience.”
Twitch, a subsidiary of e-commerce and cloud services firm Amazon, has about 100 million monthly community members.