On September 29th, Immortals Gaming Club announced a major restructuring to the company’s business model. It’s all part of an attempt to be more efficient while continuing to develop a sustainable esports enterprise.
The organization announced it will be broken up into four distinct business units. The units will be made up of an Overwatch League franchise (Las Angeles Valiant), a matchmaking platform (Gamers Club), a South American professional gaming team (MIBR), and Immortals. According to IGC, all units are currently cash-flow positive.
On top of that, many executives were promoted within the company. Ari Segal and Tomi Kovanen were both named the new Co-Managing Directors of IGC. Yuri Uchiyama was appointed as the executive chairman of MIBR. Jordan Sherman was promoted to the CEO of Immortals. Also, Roberta Coelho was hired to be the new CEO of MIBR.
“Ari and the IGC management team have done remarkable work in navigating a dynamic competitive gaming landscape,” said Meg Whitman, the company’s largest shareholder. “Strong top-line growth and positive cash flow from each of our business units are testaments to sound strategy and excellent management. We look forward to an ongoing partnership with Ari and Tomi both through their roles overseeing the IGC operating entities as well as an exciting new venture in which IGC and many of its shareholders were thrilled to invest directly. Our platforms and people have never been stronger.”
The Profit‘s Take:
This has me wondering what Immortals Gaming Club will look like five years from now. Ari Segal and Jordan Sherman, who were recently on The Business of Esports Podcast, said that this restructuring process has exceeded expectations because the company made a bet on good talent. I can’t argue with that viewpoint. Now that the business has been divided into four components, it has solved a lot of the problems the company had previously been facing. I see the benefit to doing this. When somebody feels like they own a brand or business, they are going to work much harder to make it successful. However, that same person may not be as motivated to work hard if they are tasked with running a bunch of different projects or businesses. I love what IGC is doing because they are going against the trends, they’re not just trying to grow as much as possible so that they can make deals with big-name brands like Toyota. It makes it much easier to tell the Immortals story because there is no brand confusion. When you have dedicated leadership, things move faster and more efficiently.
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