Slingshot Readers,

We NEED your support. More specifically, the author of this article needs your support. If you've been enjoying our content, you know that a lot of work goes into our stories and although it may be a work of passion, writers gotta eat. If just half our readers gave 1 DOLLAR a month, one measly dollar, we could fund all the work from StuChiu, DeKay, Emily, Andrew (and even Vince). If you contribute 5 DOLLARS a month, we invite you to join our Discord and hang with the team. We wouldn't bother you like this if we didn't need your help and you can feel good knowing that 100% of your donation goes to the writers. We'd really appreciate your support. After all, you're what makes all this happen. Learn more

Cloud9 raises $25 million in investments from parties including the WWE

Cloud9’s recent $25 million fundraising round came from a group of companies that includes WWE and increased stakes from previous investors such as San Francisco Giants outfielder Hunter Pence, according to a report Monday from ESPN.

This is WWE’s first large investment into an esports organization, though earlier this month the company partnered with IGN to host the “WWE x IGN eSports Showdown,” which featured WWE superstars playing each other in Marvel vs. Capcom: Infinite. They also produced a rather bizarre promotional video for League of Legends on Oct. 4, which showed WWE superstars AJ Styles, Charlotte Flair, and Xavier Woods supporting the three Chinese representatives at this year’s League of Legends World Championship.

According to the report, some of Cloud9’s previous investors also increased their stakes in the team. Pence participated in the Series A financing and became a board observer. Other parties who increased their stakes include Reddit co-founder Alexis Ohanian and video game development company FunPlus. Cloud9 filed the investment with the Securities Exchange Commission on Sept. 27, though it didn’t name any investors.

Cloud9 was reportedly accepted into the North American League of Legends Championship Series and will also be one of 12 teams competing in Overwatch League, which is where the money could go.

0 COMMENTS

Leave a Reply