Caffeine recently made a deal with LIV Golf to enhance its sports programming. However, the social streaming sports platform, which had received significant investments from companies like Fox, Disney, Cox, Andreessen Horowitz, and Greylock, suddenly closed its doors on Wednesday. The company cited lack of profitability as the reason for shutting down and indicated that they are exploring new opportunities for the future.
Since its launch in 2016 as an alternative to Amazon-owned Twitch, Caffeine focused on esports, video games, and live events. Investors like Fox and Disney helped fund the platform, with plans to develop content for a new venture called Caffeine Studios. Despite efforts to pivot towards niche sports leagues, live events, and sports creators, Caffeine’s closure means that its streaming deal with LIV Golf will come to an end prematurely.
Before its closure, Caffeine boasted over 60 million monthly active users and partnerships with over 150 sports organizations, event organizers, content creators, and sports media publishers. The sudden end of the platform has left many questioning the future of sports streaming and the impact it will have on the industry.