Mark Elfenbein, CEO of X1 Esports: Developing a Portfolio of Video Games and Creator EconomyYoutube
X1 Esports and Entertainment (CSE:XONE) has completed the acquisition of influencer management company Tyrus, allowing it to become a subsidiary of X1 Esports. CEO Mark Elfenbein explained how the company is focused on finding M&A opportunities and helping these businesses grow.
“Our goal is really to look at the assets of the video game industry, because there’s an evolving ecosystem that supports new advancements,” Elfenbein said. “Companies that emerge and get great responses to their product have an audience, but maybe can’t take those companies to the next level, where we come in.
“As we expand some of these businesses (that we have acquired), we will start to see some of these synergies emerge and we will start to report numbers. We will see a lot of traction in terms of significant growth in asset users. We have important partners on the advertising side. The financial results appropriately accompany these achievements. That’s really the company’s focus for the time being. Quite exciting.
The company also acquired the assets of ShiftRLE, an online media outlet focused on the popular video game Rocket League.
“The assets that we have may be in the team game space. We have video game media assets and we just acquired a company that supports a video game called Rocket League, which is a video game very popular,” Elfenbein added.
“We are very diversified, which we find attractive for advertisers and investors. We could develop these companies individually or perhaps create them in the future. More importantly, we believe we can truly find these hidden gems and take them to levels they otherwise couldn’t.
Watch the full interview with X1 Esports CEO Mark Elfenbein above.
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