Forbes names esports companies valued at over $100m
Nine global esports organisations have topped US$100 million valuation says a new report from Forbes.
The US business magazine has pegged the US’s Cloud9 as the list’s top player with a valuation of US$310m.
The organisation is home to 11 teams across several top esports titles such as Rocket League and League of Legends. It recently announced the creation of an LA training base in 2019 following a $50 million Series B funding round.
Following hot on Cloud9’s heels are Team SoloMid and Team Liquid with respective valuations of $250 million and $200 million.
Echo Fox, OpTic Gaming, Fnatic, Gen.G Esports, G2 Esports and Immortals are all also reportedly worth over $100 million.
The article went on to say Team SoloMid is the only esports company on the list known to be cash-flow positive.
According to Newzoo, esports enthusiasts will balloon to an impressive 165 million worldwide in 2018, equating to year-over-year growth of 15 per cent.
Global revenue from esports will grow 38 per cent this year to $906 million, smashing $1.65 billion by 2021.