The Swedish Gothenburg-based company Internet Games Database (IGDB) announced that they have been acquired by the American company, Amazon-owned Twitch. The financial details of the transaction were not disclosed.
IGDB was founded in 2015 by Christian Frithiof and owned by “8 Dudes in a Garage AB”. The online platform is currently the world's largest database for computer games and contains information on over 119 500 unique video and computer games.
On IGDB, gamers can look up specific information on games, such as game genre, game description, storyline, characters, game modes, publisher, release dates, members, game ratings, and reviews. IGDB sources their information on the games through online community contributions and some automated processes.
IGDB’s business model has, up until the acquirement by Twich, been advertising and affiliate marketing.
ALMI leaves the investment
The Swedish investment fund ALMI writes on their webpage “ALMI welcomes all companies and business concepts that have growth potential.”
ALMI invested in the IGDB team in early 2018. “What we saw was a fantastic team with a strong product. The video game industry is, by definition, digital in its DNA. Therefore, it felt like data-driven processes and decisions that require the type of content IGDB generates were not very far away.” ALMI writes in a press release.
As commonly seen with investments made by ALMI, they are now pulling out of the investment, allowing the company to grow on its new set terms.
”We would have liked to have been on the trip longer, but it was a good deal and we believe Twitch is a perfect port for the company”, says Christian Björkman, Investment Manager at ALMI Invest.
Excited for the Future
IGDB describes in a press release that they find their mission is to build the most wide-ranging gaming database in the world. And, as they are now joining forces with a company like Twitch, they feel closer to achieving their mission goals.
”By joining Twitch, we will be able to tap into their experience, resources, and skills, which will enable us to accelerate our progress and deliver the version of IGDB we all always dreamed about. Not only that, our companies share the same culture, core values, and passion for gaming, making this the perfect fit.” IGDB writes.
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