Dubai, United Arab Emirates, 2nd December 2021: Riva Technology and Entertainment (RTE), the leading gaming and technology investment group, together with its sister company, Galaxy Racer (GXR), the largest esports, gaming and lifestyle organisation in the world, has announced its acquisition of VY Esports.
The VY Esports platform POPC Lounge enables creators to connect with their superfans through monetized digital experiences involving livestreams, 1:1 live video chats, merchandise sales, and other unique online engagements. The company also services the live events industry by creating a hybrid model, adding a new revenue stream so viewers from around the world can access selected live content and interact with talents through digital activations. The POPC Lounge platform will serve as the virtual arm for the upcoming ‘POPC Live!’ mega event in Dubai that is beginning in March 2022.
Founder and CEO of Riva Technology and Entertainment, Founder and CEO of Galaxy Racer, Paul Roy, said: “We are excited to announce Riva Technology and Entertainment and Galaxy Racer’s acquisition of VY Esports, which we absolutely believe will bring amazing synergy to our group of companies. We are delighted to work with our new board member from VY Esports and advisory board member from Raine Ventures, as we leverage on their expertise to grow the business. They will play an important role as we continue in our endeavour to develop compelling experiences for our audiences as we head towards global domination in the esports, gaming, lifestyle and entertainment ecosystem. I am delighted to welcome Oleg Butenko to the board of Riva Technology and Entertainment. His extensive experience across technology, esports and entertainment will give us an exceptional cutting-edge advantage and will be an asset to the board.”
Founder and CEO of VY Esports, Oleg Butenko, said: “We are thrilled to be part of Riva Technology and Entertainment and Galaxy Racer, as we strongly believe in Paul Roy’s vision. 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 South East Asia, Africa, the Middle East, and the United States by offering a new strategy for monetizing virtual engagements between creators and fans.”
Managing Partner of Raine Ventures, Gordon Rubenstein, added: “We are confident with Paul Roy and Oleg Butenko’s strategic vision, their deep industry knowledge and excellent foresight, they will be able to elevate the group to the next level and we believe they have the opportunity to aggressively grow the platform.”
VY Esports was founded by CEO and founder Oleg Butenko, a digital entrepreneur who has founded businesses focused on music, telecom, and esports. As part of the acquisition, Oleg Butenko, Founder and CEO of VY Esports will be joining the board of Riva Technology and Entertainment. Additionally, Gordon Rubenstein, Managing Partner of Raine Ventures will be joining the advisory boards of both Riva Technology and Entertainment and Galaxy Racer.
Riva Technology and Entertainment (RTE) was founded in 2002 with a global presence stretching from the USA to East Asia. RTE has successfully been delivering the “vision of tomorrow”. 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.
RTE has a 20-year history of dealing with partners in multiple sectors of the gaming industry, evidenced by their highly experienced core team.
Galaxy Racer (GXR) was founded in 2019 and is the largest esports, gaming and lifestyle organizations in the world, with over 100 content creators across Middle East North Africa (MENA) and Southeast Asia (SEA), amassing over 500 million followers and generating over 2.5 billion monthly views.
-ENDS
For media enquiries please contact Swipe Right PR: galaxyracer@swiperightpr.com
About Riva Technology and Entertainment (RTE)
Founded in 2002, with a global presence stretching from the USA to East Asia, RTE has successfully been delivering the “vision of tomorrow”. 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. RTE has a 20-year history of dealing with partners in multiple sectors of the gaming industry, evidenced by their highly experienced core team.
For more information, visit https://www.rte.com.au
About Galaxy Racer
Galaxy Racer (GXR) was founded in 2019 and is one of the fastest-growing global esports, gaming and lifestyle organizations in the world, with its market presence in Middle East and North Africa, Southeast Asia, South Asia and Europe, with over 100 content creators amassing 500 million followers and over 2.5 billion monthly views, harnessed across Galaxy Racer’s five key verticals, ranging from Competitive Teams (Nigma Galaxy, the merger between Team Nigma and Galaxy Racer), Content Creators (GXR Creators), Content & Events Production (GXR Studios), Consumer Goods (GXR Limited), and GXR Records, a newly established record label.
Nigma Galaxy, the competitive esports division of Galaxy Racer, with an impressive roster of over ten esports teams under Nigma Galaxy, the competitive esports team division of Galaxy Racer; in esports titles such as Dota 2, League of Legends, CS:GO, Fortnite, Valorant, Wild Rift, PUBG Mobile, BGMI and Free Fire, with over 60 male and female esports athletes from over 20 countries.
GXR provides live streaming and gaming talents with brand endorsement deals, streaming contracts, creator collaborations, digital rights management, monetization, offline event opportunities, social media management and content programming.
For more information, visit www.galaxyracer.gg
About VY Esports
VY Esports is a content and services platform focused on bridging the world of esports, traditional brands, and media companies. Based in Santa Monica, California, the company is comprised of a global team of esports aficionados with a strong track record and deep connections in the media and gaming industries.
For more information, visit www.vyesports.com
About Raine Ventures
Raine Ventures LLC is the private equity, early-stage fund and venture capital arm of The Raine Group, LLC specializing in growth equity investments and buyouts. The firm seeks to invest in the digital media, entertainment, sports, and lifestyle sectors. It has offices in San Francisco, New York, Los Angeles, London, Shanghai and Mumbai. It prefers to invest around the world. With a global reach, Raine focuses on investment and advisory opportunities where its deep industry experience and unique network of strategic relationships can create value for portfolio companies and clients.
The firm's average investment size is expected to be in the US$40 million to US$80 million range, with the ability to deploy capital from the fund in amounts ranging from as small as US$5 million. Raine Ventures LLC was founded in 2013 and is based in New York, New York.
For more information, visit www.raine.com