Mysterious esports organization goes on sale for over $ 3 million with League and CSGO teams
An unknown Russian esports organization has listed for sale on the MicroAcquire startup acquisition marketplace for a total of $ 3.15 million.
The last few years of the esports industry can just as easily be dubbed “the era of venture capital,” with nearly every leading organization raising millions of dollars from investors.
Some organizations were also sold for a lot of money during this time, like OpTic Gaming is a prime example, but one company is forgoing this trend in favor of another method.
An unspecified Russia-based esports organization is listed on an online marketplace, hoping to find a new investor as current operators consider an exit strategy.
The organization is unknown but they specify that they are Russian, that they participate in League of Legends and Counter-Strike: Global Offensive, and that they have generated $ 300,000 in revenue in the past 12 months.
The unknown company claims that it is one of the “ten most popular organizations in the CIS” and that it receives more than 8 million views of its content every month.
Their asking price to an investor is $ 3.15 million. They would apparently use the funds to help grow their sales team to maximize what they generate through referrals and ads, with the ultimate goal of increasing the return 2-3 times over the next three years.
The organization wants to sell its business, either through an acquisition or an initial public offering (IPO), for up to $ 8 million. The sale details listed on the market indicate that they are open to a full sale, but also welcome the idea of selling 15%, 21% or 48% of the business.
They claim to have generated $ 35,000 in income in the past month, of which no profit was made, as part of an annual profit of $ 300,000 which also brings no profit.