Amazon buys Twitch for $1 billion!

Amazon is buying Twitch for $1 billion dollars or the commercial equivalent of one Instagram! The announcement was confirmed by Android Police, The Wall Street Journal and itself in the past few hours!

A few weeks after the rumor that Google is the one who acquired Twitch hit the news; reality hits the eager public with a shock. It is still unclear why Amazon is taking a shot with such a popular streaming site as Twitch because the multimedia e-mogul is not active in the social media niche and does not associate itself too much with gaming. Amazon is more known for being one of the best merchandise e-service around selling from video games, books, cat food, electronics to power tools and clothing.

Amazon officially announced that it has reached an agreement with Twitch Interactive Inc. in relation to its acquisition. Considering the fact that streaming, broadcasting and watching gameplay has become rather popular in the past few months, Twitch became a leader on the niche market and it brings millions of people together in various channels where they can watch the gameplays they love so much and the gaming conferences they cannot attend to in person.

Twitch launched in 2011 and focuses on live video streaming for gamers. Amazon is said to acquire Twitch’s shares for $970 million in cash and the agreement is expected to close sometime in the third quarter of 2014. 

Source: The Wall Street Journal

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