Immortals Gaming Club Are Getting Out of the Esports Team Space
Start with a big story. Is you know it's impossible to ignore big numbers. And i'll just give you the headlines of three stories. But they're all the same story. Basically i just i like the three headlines because they all tell a little bit different side of it. The first year was immortals club raises additional twenty six million dollars. The second year was from bloomberg says meg. Whitman backed firm to way sale of overwatch team again talking about immortals gaming club and then the third immortals gaming club raises twenty. Six million led by ex quickly. Exact meg whitman. So if you put all these three together you sort of have all the information. You need witches with immortals calling her ex quickly exact. I mean could she is that that has got to be the most subtle you tag career up until on his business like her. Oh the ebay right yeah. That's better than leading quickly. Wow you're only as good as your last gig. You're only as good as your last exum be. Feels like something. Like as a as a term. Like i would order an like an exotic restaurant like well. I will start with the vegetable three way. Medley have the x. Qube for my main interest rate and goes just leaving puzzled. Sometimes i am puzzled. William by how your brain works that brain that it's such a funny term. So so here's here's what we know from the just the three headlines. Immortals gaming is raising a raised twenty six million dollars. It's being led by meg whitman. Who used to be equipped he also ebay footmen footnote and they're looking to sell their overwatch team. Believe it or not so. They've already got rid of their like previously. Got rid of their Call of duty league team And now the overwatch league team. They're looking to to get rid of it and i'll just read. I'm going to present you all the information guys. And then you can discuss. But it says immortals gaming intends to focus less on city specific teams and more on businesses related to online gaming such as gamers club a subscription service in latin america which connects video game players. The company said last week. It's selling a team playing and activists call of duty league to one hundred thieves And now so. They've sold off their call of duty league team now. They're saying they want to sell their los angeles valley and overwatch team. In the meantime the raid they raised twenty. Six million led by meg whitman. What do you guys make this news. There's a lot of. there's a lot to unpack. You're right the amount. They've raised be That they're divesting of assets sort of as part of this razor almost next to it which you don't usually hear about You guys think jeff. Lindsay william whoever wants to start here. What do you guys think of of mortals gaming club. And the way they're going. Let me go last. I have some some hot takes. Let me last go first. Then let's let's open with some hot takes you're all my take on. This is a little is a little more nuanced. But i think what's really interesting about this announce those two things to read into this. One is a mortals has just not done well as in east sports work right. They haven't won anything. They haven't really built a differentiated brand. They've been blown. Apart in the lifestyle category versus other orbs about the best thing they did back in late two thousand eighteen by gamers club right and make a move into south american marquette. This reads like a real strategic shift into you know gaming services and service provision right. Because you don't. You don't sell off both gated franchises and in particular. You don't sell off call of duty called duties actually starting to perform now like it's unusual to sell that asset unless you are If you're still committed to really making the team piece work so i think an underscore here as immortals you know is going to be getting out of the team space. I think a second thing i would add to this though in the morrison is the fact that they are announcing looking for a sale of overwatch without the buyer. List william razi to me because that is a direct that first of all signals a little bit of urgency right like we're trying to get rid of this asset gimme buyers right because like to be honest with you like like you don't need for an asset like that you know you don't you don't really need to do this sort of thing right like you don't know who the people are who are in the market for this The the second thing is. I think this is like a forcing mechanism with activision blizzard. It seems like they want out of that league and announcing they're going to sell is a really good piece of lever to communicate activision blizzard. Hey it's not working right and also to kind of tip their hat about the seriousness of their frustrations with with that business right now. So that's my read on. This is the announcement of sale is a little tactical. It's partly strategically. They want to divest. And it's partly. They're trying to communicate something to activision blizzard because they didn't announce again these. These are sort of deals. Where like you read about in favor of like. Oh i too could go by that. You know what i mean. There's a limited set of groups and these guys ono each other right like you. Don't you're not going to be surprised by who's coming out by this org slot like it wasn't like come on hundred. Thieves did call of duty right. It wasn't like josie sports club.