Caffeine, a social streaming sports platform that had received significant funding from various companies, recently announced its closure. Despite its efforts to be profitable, the platform made the decision to end its service on June 26th as it evaluates its next steps.
Initially launched in 2016 as an alternative to Twitch, Caffeine focused on esports, video games, and live events. Investors like Fox, Cox, and Disney saw potential in the platform and supported its growth. In recent years, Caffeine shifted its focus to niche sports leagues, live event organizers, and sports creators. It announced a streaming deal with LIV Golf earlier this year but had to terminate the streams halfway through the season due to its closure.
Caffeine had garnered over 60 million monthly active users and partnered with more than 150 niche sports leagues, competitive event organizers, content creators, and sports media publishers. Despite its impact on the industry, the platform was unable to achieve profitability. The company expressed gratitude to all those involved and hinted at a comeback in a different form in the future.