21 May 2020
Sleeper Closes $20 M Funding And Expanding To Esports Amid Pandemic
Sports app is a platform that helps us unwind from the stress and gain relaxation by viewing it. However, it is the pandemic that has taught us just how unprepared we were for traditional sports. But don’t lose hope, as, despite the cancellation of leagues and tournaments, the sports industry has found its solace in esports.
Esports is a game changer!
As the mainstream sports around the world is on hold, people are increasingly turning to online gaming to fill the empty hours of lockdown and isolation. As there is a constant increase in the COVID-19 cases, it is mandated for more number of people to stay-at-home. This is the gap that has been filled by the sports industry to migrate its offerings to live streaming platforms.
Across the globe, from education to meditation, have embraced live streaming, and for esports, this is home territory. With the help of the esports app, it becomes easier for the organized multiplayer video game competitions to enjoy spectacular growth. Surprisingly, there are thousands of fans filling virtual stadiums to watch live events.
Amid pandemic, many industries have faced the downturn and losing their consumers, but you should know that the sports industry has proven its worth. And this very industry is largely immune to the COVID-19 pandemic.
Do you wonder why?
It is all due to its prompt transition into online formats and this has provided a sudden spike in interest from traditional sports organizations. Also, it has helped users to relish the virtual portal and stay engaged during the global lockdown.
Sleeper – Fantasy sports startup will change the game
Sleeper is a popular sports platform, that is made for fantasy leagues and eSports, and connects fans and people to create a community. This platform enables users to relish a sporting event in a communal way that creates lasting memories. Now, this very fantasy sports startup has gained the attention of the global audience once again as it has secured Series B funding and is embracing esports league.
As stated by Sleeper CEO- Nan Wang, “Originally, the goal was to do arena sports and then strategically select esports that we thought would be big market opportunities. In the absence of sports, it becomes easier for us to push something that was further out on the roadmap.”
A quick rundown of Series B funding
As of now Sleeper has over 1 million active users and is ready to push this number forward with the financing it has received. The Sleeper has garnered a $20 million Series B funding round led by Andreessen Horowitz. Kevin Durant, Baron Davis, JuJu Smith-Schuster, and Twitch CEO Kevin Lin. With this funding, Sleeper’s investors are going to create a new level of vertical-focused social networks.
What you should expect now?
As of now, every service offered by Sleeper is free and the company has no plans to make any changes to it.
Andreessen Horowitz GP Andrew Chen made an official statement, “The next social platforms are going to be vertical and look a lot more like games, offering deeper engagement than broad social networking platforms. Sleeper’s leagues provide shared activities between friends, and has some of the best stickiness metrics we’ve seen.”
How users would relish through esports concept?
Sleeper has an aim to capitalize on users staying home due to lockdown and to make this happen, the startup recently launched voice chat. They are also planning to add video chat to the app soon, and by the end of this year Sleeper will launch three new sports.
Sleeper is on the right track to revolutionize the worlds of online gaming, with a prime focus on social features, that can ensure success and engagement at the same time. With this initiative Sleeper is looking at the broader spectrum of winning both sports and esports.
Why esports will be a huge success?
It goes without saying but Esports has received a burgeoning growth across the last few years and welcoming the sports teams and players space during the current crisis. And the pandemic has brought an opportunity for the esport industry, where viewers are streaming online and getting access to a constant flow of entertainment.
The show must go on!
It is indeed a hard task for the sporting bodies to keep up the fan engagement during the pandemic. Amid this global crisis, sports can enlighten the hearts and minds of people, and sway away from the stress. Henceforth, it is a fact that online play can also be utilized as a marketing method, and team and players can reach more eyeballs. As the esports is bringing the virtual environment to the young viewers it can grab better attention.
Esports is going to stay for longer, as there is no core change required in tone, presentation, or voice. This changes the game, and even when the entertainment industry will go live again, the power of digital cannot be missed. Sports industry must embrace the digital mode now, so they can survive the battle during and post-pandemic as well.
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