Liberty Global Ventures’ Mobile Esports Investment Closes Successful Public Market Debut
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.