Rivalry ipo ustakahashiventurebeat
The world of online gaming has been growing at an exponential rate, and with it, the demand for esports betting has also been on the rise. One of the companies that have been making waves in this industry is Rivalry ipo ustakahashiventurebeat, a Canadian-based esports betting platform that has been gaining popularity among gamers and bettors alike. Recently, Rivalry announced that it would be going public through a merger with Ustakahashi Holdings, a special purpose acquisition company (SPAC) that is listed on the Nasdaq under the ticker symbol “USTK.” In this article, we will take a closer look at Rivalry’s IPO and what it means for the esports betting industry.
The Merger
The merger between Rivalry and Ustakahashi was announced on June 10, 2021, and is expected to close in the third quarter of 2021. The deal values Rivalry at $206 million and will provide the company with $40 million in cash proceeds to fund its growth plans. The merger will also allow Rivalry to become a publicly-traded company, which will provide it with greater visibility and access to capital markets.
The Future of Esports Betting
The esports betting industry has been growing rapidly in recent years, and many experts predict that it will continue to do so in the coming years. According to a report by Grand View Research, the global esports betting market size was valued at $7 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 13.3% from 2021 to 2028. With the merger with Ustakahashi, Rivalry is well-positioned to take advantage of this growth and expand its operations globally.
Conclusion
The merger between Rivalry and Ustakahashi is a significant development in the esports betting industry. It will provide Rivalry with the capital it needs to fund its growth plans and become a publicly-traded company. With the global esports betting market expected to grow at a CAGR of 13.3% in the coming years, Rivalry is well-positioned to take advantage of this growth and become a major player in the industry.
