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Liberty Global Ventures’ Mobile Esports Investment Closes Successful Public Market Debut
Skillz Marks the First Publicly-Traded Mobile Esports Platform and Liberty Global Ventures’ Most Recent Investment to Go Public DENVER, Colorado--(BUSINESS
About this update from Liberty Global Ltd.
[{"type":"text","content":"\nSkillz Marks the First Publicly-Traded Mobile Esports Platform and Liberty Global Ventures’ Most Recent Investment to Go Public\n\n DENVER, Colorado--(BUSINESS WIRE)--\nLiberty Global (Nasdaq: LBTYA, LBTYB and LBTYK), one of the world’s leading converged video, broadband and communications companies, through its Liberty Global Ventures (“LG Ventures”) investment arm, has seen the successful public debut of Skillz (NYSE: SKLZ), the leading mobile games platform.\n\nSkillz connects players globally in fair, fun and meaningful competition, and helps developers build and monetize their franchises by enabling social competition to increase reach and engagement. Leveraging its patented technology, Skillz hosts billions of casual esports tournaments for millions of mobile players and distributes millions in prizes each month. Becoming a publicly traded company further enables Skillz to accelerate its expansion in the fast-growing mobile gaming market that today includes 2.7 billion gamers and 10 million game developers.\n\nLiberty Global Ventures first invested in Skillz in 2017. The company has provided revenue guidance of $225 million for 2020, representing 89% growth year-over-year.\n\nJohn Gowen, Managing Partner, LG Ventures commented, “We are thrilled for Skillz, its management team and fellow shareholders. This is an innovative company that shows exceptional potential within the growth trajectory of the mobile gaming industry.”\n\nGowen added, “We continue to see demonstrated opportunity in gaming as an entertainment category, and with the substantial growth and success we’ve achieved with Skillz, our Ventures group widely views gaming as an important area for ongoing investment.”\n\nABOUT LIBERTY GLOBAL\n\nLiberty Global (NASDAQ: LBTYA, LBTYB and LBTYK) is one of the world’s leading converged video, broadband and communications companies, with operations in seven European countries under the consumer brands Virgin Media, Telenet, UPC, the combined Sunrise UPC, as well as VodafoneZiggo, which is owned through a 50/50 joint venture. Our substantial scale and commitment to innovation enable us to invest in the infrastructure and digital platforms that empower our customers to make the most of the digital revolution.\n\nLiberty Global delivers market-leading products through next-generation networks that connect customers subscri...