It Only Takes A Few Months For Skillz Mobile Esports To Double Revenue Run-Rate To $400 Million
By now, most people have heard of not only the massive, quick growth for the esports industry, but also its staying power. A sector of that massive industry is the mobile space where one particular company has been able to thrive, being named the fastest-growing private company in America in 2017.
That company is Skillz. In April, I covered Skillz’s success with regard to closing a Series C round at $25 million, doubling its run-rate in less than a year to $200 million and hosting 1 million tournaments per day.
Mere months later, Skillz is announcing today that its revenue run-rate is up to $400 million and it is running more than 2 million tournaments per day. It is also powering esports competitions for over 13,000 game studios, up dramatically from the roughly 8,000 studios it was working with in April.
Skillz is one of the more impressive stories in the esports space, which is projected to be valued at $3 billion as an industry by 2022, according to analysts at Goldman Sachs. Those analysts believe that esports prize pools will grow 30% year-over-year for each of the next five years.
Prize pools are definitely rising with Skillz alone. The company recently hosted the largest solitaire tournament ever and awarded $100,000 in prizes to competitors. It gave away almost $100 million in prizes in the past five months alone.