Liberty Global Ventures’ Mobile Esports Investment Closes Successful Public Market Debut
January 14 2021 - 9:15AM
Business Wire
Skillz Marks the First Publicly-Traded Mobile Esports
Platform and Liberty Global Ventures’ Most Recent Investment to Go
Public
Liberty Global (Nasdaq: LBTYA, LBTYB and LBTYK), one of the
world’s leading converged video, broadband and communications
companies, through its Liberty Global Ventures (“LG Ventures”)
investment arm, has seen the successful public debut of Skillz
(NYSE: SKLZ), the leading mobile games platform.
Skillz connects players globally in fair, fun and meaningful
competition, and helps developers build and monetize their
franchises by enabling social competition to increase reach and
engagement. Leveraging its patented technology, Skillz hosts
billions of casual esports tournaments for millions of mobile
players and distributes millions in prizes each month. Becoming a
publicly traded company further enables Skillz to accelerate its
expansion in the fast-growing mobile gaming market that today
includes 2.7 billion gamers and 10 million game developers.
Liberty Global Ventures first invested in Skillz in 2017. The
company has provided revenue guidance of $225 million for 2020,
representing 89% growth year-over-year.
John Gowen, Managing Partner, LG Ventures commented, “We are
thrilled for Skillz, its management team and fellow shareholders.
This is an innovative company that shows exceptional potential
within the growth trajectory of the mobile gaming industry.”
Gowen added, “We continue to see demonstrated opportunity in
gaming as an entertainment category, and with the substantial
growth and success we’ve achieved with Skillz, our Ventures group
widely views gaming as an important area for ongoing
investment.”
ABOUT LIBERTY GLOBAL
Liberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the
world’s leading converged video, broadband and communications
companies, with operations in seven European countries under the
consumer brands Virgin Media, Telenet, UPC, the combined Sunrise
UPC, as well as VodafoneZiggo, which is owned through a 50/50 joint
venture. Our substantial scale and commitment to innovation enable
us to invest in the infrastructure and digital platforms that
empower our customers to make the most of the digital
revolution.
Liberty Global delivers market-leading products through
next-generation networks that connect customers subscribing to 50
million broadband, video, fixed and mobile telephony services
across our brands. We also have significant investments in ITV,
All3Media, ITI Neovision, LionsGate, the Formula E racing series
and several regional sports networks.
ABOUT LIBERTY GLOBAL
VENTURES
Liberty Global Ventures is the company’s global investment arm,
with a diverse portfolio of 40 companies in content, technology,
internet and distribution. The group consists of a dedicated team
in Denver, Silicon Valley, London and Amsterdam, whose remit is to
leverage Liberty Global’s scale and expertise to drive superior
strategic and investment returns.
For more information, please visit www.libertyglobal.com.
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