Razer takes up to $100 million in new investment - report
Horizon Ventures' investment is based on $2 billion valuation, tied to a new partnership with 3 mobile network
Razer has formed an alliance with 3 Group, a mobile operator interested in becoming the network of choice among gamers.
This new partnership marks the first occasion on which Razer has collaborated with a mobile network, and will lead to a number of co-branded initiatives designed to appeal to the gaming audience. For 3, that means mobile devices and tariff plans customised for gamers' needs; for Razer, that means leveraging the reach of 3's network to distribute its broad range of gaming products and services.
An official release referred to both "gamers and spectators," suggesting that Razer's eSports business will be a key beneficiary of 3's high-speed network and mobile broadband technology. Razer CEO Min-Liang Tan said as much in an official statement, in which he positioned the company as "pioneers in eSports - one of the most exciting media platforms in recent years."
He continued: "We are incredibly excited about joining forces with the 3 Group to bring our cutting-edge gamer lifestyle to their audiences. From co-branding to mobile and virtual currencies - we're excited to work with the 3 Group to reach out to the youth in their markets."
There is another aspect to the relationship between Razer and 3, however. In addition to the partnership, the owner of 3, Li Ka-Shing, has made a sizable investment in Razer through his VC firm, Horizons Ventures. Razer CEO Min-Liang Tan confirmed that much to Techcrunch, which then established through separate sources that the investment was between $50 million and $100 million.
That investment is based on a near $2 billion valuation of Razer, which is almost double the value touted in October 2014. This investment is also in addition to the minimum $125 million in funding the company has publicly disclosed.
At the start of this year, Razer acquired the mobile hardware firm Nextbit.