Google Reportedly Confirms Purchase of Twitch for $1B

Google has reached an agreement to buy game Twitchfor $1 billion, according to sources familiar with the matter. Twitch is aSan Francisco-based company that allows users upload and watch free, live gameplay videos that can be streamed from PC, Microsoft Xbox One andSony PlayStation 4consoles.

According toVariety,Google made an all-cash offer sometimes in May and the deal could be announced soon. If this is acquisition is confirms, it will emphasize the value importance of livestreaming games on the internet and also make gaming a spectator sport where people can watch competitive game play online just like they watch football and other live sporting events.

Googles YouTube division which was acquired in 2006 for $1.65 billion is reportedly in charge of the acquisition, which would represent a significant transformation of YouTubes business. At the time of reporting, there is no information about the exact purchase price or when the deal will be announced.

Twitchenables both competitive gamers and average players to gain pretty fame by entertaining online spectators who sometimes number in the millions. Itbegan in June 2011 by Justin Kan and Emmett Shear, recordsmore than 50 million monthly active users and more than 1.1 million members who broadcast videos every month. and more than 13 billion minutes of video are watched per month on Twitch.

The company has raised about $35 million from Bessemer Venture Partners, Alsop Louie Partners, WestSummit Capital, Take-Two InteractiveSoftware, Thrive Capital, and Draper Associates.

Twitch is the worlds leading video platform and community where gamers and spectators up to 45 million gather every month to broadcast, watch and talk about video games.