Highway Robbery

Drake-backed esports and lifestyle company raises $60 million in funding

December 07, 2021

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In Today’s Issue 💬

→ How a four-year-old company became one of the largest names in esports

→ A new creator platform puts power in the hands of communities

→ Unpacking the latest report on the creator economy

100 Thieves Raises $60 Million in Funding

Source: 100 Thieves

2021 has been good to 100 Thieves. The esports, apparel, and entertainment company has collaborated with Gucci, repeatedly surpassed $1 million in apparel sales, and reached over 1 million followers on each of its four social channels. Last week the brand closed a $60 million Series C round led by Green Bay Ventures. This brings 100 Thieves to a valuation of $460 million, up from $160 million two years ago. 

Former pro-gamer Nadeshot founded the company in 2017, launching with a portfolio of esports teams, video entertainment brands, and apparel. 100 Thieves has received support from big names like Scooter Braun and Drake, who have become co-owners in the operation. The company has since brought in other co-owners such as streamers Valkyrae and CouRageJD.

In a video announcing the funding, president John Robinson said the money will be used to make the company profitable and take on new growth opportunities, including more brand acquisitions and signing new creators. 

Two months ago 100 Thieves acquired their first company, Higround, which manufactures gaming peripherals like headphones and keyboards. Adding brands like this to its portfolio allows 100 Thieves to use its reach and expertise in media to scale production.

Our Take

Building and maintaining a “cool” brand is one of the hardest things to do in business—and few are better at it than esports companies like 100 Thieves. The “cool” factor allows companies to transcend sectors like apparel, tech, and entertainment, allowing the brands to trade at high valuations.

One Platform Wants to be a Central Hub for Creators

Source: Playground

Playground, a new community-focused platform for creators, launched in beta last week. The platform was started by Jia Ling Yang, a creative director who’s had stints at Facebook, Google, and Vice. 

Currently in its beta stage, Playground acts as an event-discovery tool like Eventbrite, encouraging online communities to meet up IRL. The larger vision is for Playground to be a home where creators can manage all financial and social aspects of their business, from starting a community to monetizing it.

More features are set to roll out in the coming months which will allow creators to manage subscriptions, send newsletters, post events and podcasts, view analytics, and sell merch. There will be a free tier for creators but to access monetization features like paid ticketing and membership programs, it’ll cost $15–$30 per month. Creators can sign up for the waitlist here.

Our Take

The ability to own a community carries a lot of value—creators can distribute content to their own audience without worrying about how the platform affects their work, and creators can give autonomy to their communities, where the audience is as empowered as the creator to share and shape content direction.

Sponsored by Jellysmack

What Keeps Creators Up at Night?

If you’re a YouTube creator, you probably toss and turn thinking about thumbnails and performance metrics. You design each bit of your content with extreme care to make the most of the unique YouTube experience.

Focusing on the ins and outs of a single platform can make sense (especially for early creators), but what opportunities might you be missing on other channels?

Jellysmack has the answers. Jellysmack’s robust team of video editors and dynamic technology empower creators to make content that works across tons of platforms—Instagram, Facebook, and Snapchat, to name a few.

Report Finds More Creators are Making Money

Source: MBO Partners

Of the 11.5 million Americans that participated in the creator economy this year, 7.1 million earned income according to MBO Partners, a workplace management platform. Their first-ever sizing study dug deeper into what the creator economy looks like in America.

By the Numbers

55 → percent of content creators collaborate with each other on projects, compared to only 21% of independent workers. 

75 → percent of creators are under 40 years old.

46 → percent of creators also hold a full-time job.

In addition, the study found that the creator economy is slightly more diverse than the American population at large, with 19% identifying as Black, compared to just 12% of the overall American population.

Our Take

While many are juggling a full-time job alongside their content creation, it’s clear from these stats, as well as the nearly $2 billion invested in creator economy startups this year and over 220 firms that cater to creators, that the creator economy is becoming a more accessible and viable means of income than ever.

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