Skillz Doubles Revenue to $200 Million Run-Rate in Under 9 Months
Skillz Doubles Revenue to $200 Million Run-Rate in Under 9 Months
Skillz Now Runs Over a Million eSports Tournaments Daily
SAN FRANCISCO, April 3, 2018 /PRNewswire/ -- Skillz, the worldwide leader in mobile eSports, announced that it has doubled its revenue run-rate to $200 million. The company, which was named the fastest-growing in America by Inc. Magazine in August of 2017, grew revenue over 125% from the first quarter of 2017 to the first quarter of 2018.
"We invented mobile eSports in 2012 at a time when the term eSports was virtually unknown even in the PC world," says Andrew Paradise, CEO and founder of Skillz. "Today, eSports are a multi-billion dollar industry and mobile is the tip of the spear."
Skillz currently hosts over one million tournaments a day, with the average Skillz player spending 63 minutes per day on the platform, which is 50% more time than leading entertainment platforms such as YouTube, Facebook and Snapchat.
Mobile has rapidly become the most popular gaming platform in history, generating more than half of all gaming revenue and attracting over 2.6 billion gamers worldwide. With 6 issued patents, 15 million users and 500 million tournaments hosted since inception, Skillz has established itself as the leader in mobile eSports.
Large technology companies have recently ramped investment into the mobile eSports industry, with Amazon announcing the launch of GameOn in March, and Microsoft announcing its acquisition of PlayFab in January. With GameOn, Amazon is now awarding real-world prizes to mobile competitors, a hallmark feature on the Skillz platform since the company's launch five years ago. During that time, Skillz has awarded players over $200 million in total prizes, with the top 10 players claiming over $2 million in prizes in 2017.
"Analysts are revising upwards their market projections for eSports on what seems like a daily basis," said Casey Chafkin, COO of Skillz. "It was just last year when Newzoo forecast the eSports industry to hit $1.5 billion by 2020. Today, Berenberg is forecasting the market to be worth as much as $40 billion by 2025."
About Skillz
Skillz, the leading mobile eSports platform, connects the world's 2.6 billion mobile gamers through competition. In 2017, Skillz was named the #1 fastest-growing private company in America by Inc. Magazine, the first eSports company on CNBC's Disruptor 50, and the only eSports company on the San Francisco Business Times Fast 100. Over 15 million gamers use Skillz to compete in mobile games across 8,000+ game studios. Founded in 2012, Skillz is headquartered in San Francisco and backed by leading venture capitalists as well as the owners of the New England Patriots, Milwaukee Bucks, New York Mets and Sacramento Kings. To learn more, visit www.skillz.com.
Press Contact
Roxie Bostwick
Communications Lead
Skillz Inc.
pr@skillz.com
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