Azubu

About Azubu

Azubu was a global broadcast network focused on the burgeoning esports market, designed to provide high-definition, lag-free live streaming of professional gaming tournaments and content. The company was established in 2012 after Lars Windhorst, a European investor and owner of Sapinda Group, witnessed the massive audience for a "League of Legends" championship in Seoul. He, along with his then-senior advisor, investment banker Seok Ki Kim, launched the venture to capitalize on the growing phenomenon.

Positioned as a premium alternative to mainstream platforms like Twitch, Azubu aimed to be the premier destination for esports enthusiasts. Its business model centered on generating revenue through advertisements and a share of paid subscriptions, attracting users by securing exclusive streaming rights with top-tier esports teams and players. Key partnerships included renowned "League of Legends" players like Faker and teams such as SKT T1 K, as well as organizations like KeSPA in South Korea. The platform offered in-depth editorial content, statistics, and real-time chat to enhance the viewer experience. With its headquarters in Los Angeles, Azubu also maintained offices in Vancouver, Seoul, and Berlin to manage its global operations.

Despite ambitious goals, Azubu faced significant operational and financial challenges. The company was primarily funded by Windhorst's Sapinda Group, which invested over $40 million. This funding was controversially structured as small, monthly debt installments rather than traditional, large venture capital rounds, which reportedly created budget instability and frustrated management. By 2016, Azubu struggled to retain key personnel and lost crucial streaming rights, such as those for "League of Legends," due to rising costs. In January 2017, the company acquired its European rival, Hitbox, in an attempt to consolidate its market position. Shortly after, in May 2017, Azubu and Hitbox merged and rebranded to form a new platform called Smashcast, effectively ending the Azubu brand.