Azubu has raised 55 million euros, or $59 million in U.S. currency, in a debt financing aimed at creating a livestreaming business based on esports. Pro gaming has become a big business, and Azubu believes it can be more focused on it than its bigger rival, Twitch, which was purchased last year by Amazon for $970 million.
Sherman Oaks, California-based Azubu streams live video of professional video game competitions, known as esports, to spectators. The esports market is expected to grow from $748 million in 2015 to $1.9 billion by 2018, according to market researcher SuperData Research.
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