esports investments are a joke - there's so much dumb money in this space!
look at this "billion dollar" publicly traded company: $EGLX
look at this "billion dollar" publicly traded company: $EGLX
Enthusiastic Gaming is a holdco of random assets ranging from the most popular website for The Sims, to a minority stake in the vancouver overwatch team.
It's not a bad company...it's just not worth $1b
here's a quick scan of their last quarter report
It's not a bad company...it's just not worth $1b
here's a quick scan of their last quarter report
looks like they rolled up a bunch of companies:
- Bought @Luminosity for $1.5M cash, 7.5M stock
- Bought a couple agencies for $13M cash + more stock
- started trading on the TSX in january, up ~4x in a year.
They are basically an ad agency for gaming channels + websites
- Bought @Luminosity for $1.5M cash, 7.5M stock
- Bought a couple agencies for $13M cash + more stock
- started trading on the TSX in january, up ~4x in a year.
They are basically an ad agency for gaming channels + websites
for the first 3/4ths of the year - they did $30m in revenue, with $50M in expenses, for a net loss of -$20M so far for the year.
- not profitable
- not durable (business model = middleman/agency)
- not scalable
how is this a $1b co?
- not profitable
- not durable (business model = middleman/agency)
- not scalable
how is this a $1b co?
people want to invest in rocketships. this is a sparkler
$8.5M cash in the bank left. Looks like they'll need to raise more money from the market to keep the show going 😅
$8.5M cash in the bank left. Looks like they'll need to raise more money from the market to keep the show going 😅
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