Amazon Acquires Twitch for Nearly $1 Billion, Snatching it From Google's GraspCategory: Internet
Posted: August 25, 2014 03:49PM
Nine...Hundred...Seventy...Million...Dollars. That's how much Amazon just agreed to pay to acquire videogame-streaming service Twitch. Back in May, several sources reported that Google's YouTube division would be acquiring Twitch for over $1 billion, with Venture Beat reporting in July that the deal was actually inked. So why did Twitch go for the seemingly lower bid? Twitch CEO Emmett Shear had the following to say:
We chose Amazon because they believe in our community, they share our values and long-term vision, and they want to help us get there faster. We’re keeping most everything the same: our office, our employees, our brand, and most importantly our independence. But with Amazon’s support we’ll have the resources to bring you an even better Twitch.
According to Amazon, "the acquisition is expected to close in the second half of 2014," which is an odd thing to say since we're already in the second half of 2014. I guess that means it's expected to close before the year ends. It'll be interesting to see how the deal affects the service, but most fans of Twitch seem pretty happy the service wasn't acquired by Google. With Google already owning the #1 platform for Internet video in YouTube, it's probably safer for us all that it didn't also acquire the fastest growing in Twitch.