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http://www.ongamers.com/articles/azubu-secures-34-5-million-from-sapinda-group/1100-1108/
UPDATE: CEO Ian Sharpe and Director of Content Matthew Gunnin has provided statements to onGamers, which can be read in the link.
Azubu has announced today that the Sapinda Group has reached an agreement to invest $34.5 Million to the company.
This investment precedes a major relaunch of the Azubu platform next month which includes the Azubu.tv, onGamers has learned. Earlier this month onGamers reported that Leaguepedia founder Matthew Gunnin was headed to Azubu to be the new Director of Content.
Sapinda Group is currently the investment group behind Azubu, Clauf (ESGN), and Global Esports Management (GEM).
Quote from Sapinda can be found in the article. I have reached out to Azubu and Sapinda for additional comment on the matter, and hope to have more today/this week.
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Santa Clauf
I guess we know now how GEM can afford all the stuff they're doing aswell
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Okay.... So are they a legit company or not?
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I wonder if there is some money laudering here. :/
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United States97274 Posts
I never know what to expect next with Claufzubu
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East Gorteau22261 Posts
This feels just as shady as last time.
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That's a lot of funding. Does anyone know by now what they are going to do?
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Apparently the CEO of the Sapinda group went bankrupt in 2003 with his own company and they founded the Sapinda group in the following year
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Fiddler's Green42661 Posts
Just when you think Azubu is out, they just come right back up!
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I thought someone on TL started working for Clauf. Do we know if Azubu is any less shady now?
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On March 26 2014 07:24 Caihead wrote:
Okay.... So are they a legit company or not?
Sapinda is an investment group that has done investments for billions of euros. Why shouldnt they be legit?  Tbh I don't understand why they would invest in the esports related things.. It can't be very profitable..
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With a name that tainted I really can't see why anyone would invest in it instead of starting a new brand. I don't see what part of azubu is worth any amount of money.
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Lorning
Belgica34432 Posts
I should ask them for a sponsorship
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So they invest in themselves?
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Netherlands45349 Posts
hahaha
hahaha
very legit guys.
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So, can they afford booths that are soundproof for an audience of 10.000 people?
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Lets see how this one turns out...
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On March 26 2014 07:29 AyaaLa wrote:Show nested quote +On March 26 2014 07:24 Caihead wrote:
Okay.... So are they a legit company or not? Sapinda is an investment group that has done investments for billions of euros. Why shouldnt they be legit? Tbh I don't understand why they would invest in the esports related things.. It can't be very profitable..
Loads of "legit" or billion dollar investment groups invest in shady corporations all the time, was talking about Azubu.
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EPT
