Gaming and technology investment group Riva Technology and Entertainment (RTE), along with its sister company Galaxy Racer, the largest gaming and lifestyle organization in the world, announced their acquisition of VY Esports. The VY Esports platform, POPC Lounge, enables creators to connect with their super-fans through monetized digital experiences involving live streams, 1 on 1 live video chats, merchandise sales, and more.
“We are thrilled to be part of Riva Technology and Entertainment and Galaxy Racer, as we strongly believe in Paul Roy’s [Founder and CEO of RTE] vision,” said Oleg Butenko, Founder and CEO of VY Esports. “With the POPC Lounge platform, we will push hyper-growth across the vast RTE and Galaxy Racer influencer network. As we scale globally, we will bring direct, monetizable, fan engagement to major regions like Southeast Asia, Africa, the Middle East, and the United States by offering a new strategy for monetizing virtual engagements between creators and fans.”
As part of the acquisition, Oleg Butenko will be joining the board of RTE. Additionally, Gordon Rubenstein, a Managing Partner of Raine Ventures, will be joining the advisory boards of both RTE and Galaxy Racer.
RTE was founded in 2002 with a global presence stretching from the USA to East Asia. RTE’s group of companies hold an industry advantage in their ability to successfully take every project from concept to execution; all housed under one roof. The complementary companies cover location-based entertainment, brand and intellectual property licensing, content development, consumer products, gaming, and esports.
(All information was provided by European Gaming)
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