The gaming company Esports Mogul announced it finished the quarter with $5.13 million in funds that will be allocated to the organization’s building and buying strategy. Esports Mogul also recorded cash outflows of $643,000.
Esports Mogul’s strategy begins with a focus on small and middle-tier video game companies. It is believed these companies will be mobile or PC game developers that work with new mechanics like play-to-earn gaming.
Esports Mogul raised $1.6 million during the quarter. The company said that it will not be seeking additional funding because they believe they are “significantly funded” to continue operations until 2023.
Esports Mogul is a famous esports media and software company popular in Australian, Asian, and Latin American markets. The organization was founded in 2016. It currently trades stock on the Australian Securities Exchange under the ticker symbol “ESH”.
(All information was provided by LinkedIn and The Market Herald)
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