Amazon breaks e-commerce record, buys gaming network Twitch for $970m

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moneyOnline retail giant and e-commerce investor Amazon has bought live-streaming gaming network Twitch Interactive for $970m, replacing Google, which was previously rumoured to be buying the company.

The sale price is nearly 10-times the value it was given following its most recent round of funding, which was led by venture capital firm Thrive Capital and raised $20m Series C in September 2013.

At that point experts said the business was worth just under $100m.

Twitch CEO Emmett Shear said in a letter, “We chose Amazon because they believe in our community, they share our values and long-term vision, and they want to help us get there faster.”

Shear said that the company’s office, employees, brand, and independence will be retained, but “with Amazon’s support we’ll have the resources to bring you an even better Twitch.”

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