ESPN reports that WWE is investing in eSports organization Cloud9, which was formed in 2013. The company recently raised $25 million in Series A financing from WWE, the Beverly Hills Sports Council, MLB veteran Hunter Pence and others.
“We just looked around the space, looked at all the players and did our own evaluation of who we thought would be successful in the long term,” WWE Chief Strategy and Financial Officer George Barrios told ESPN. “We just thought that the Cloud9 team had developed lots of expertise and we’re just really, really impressed with Jack [Etienne, the Cloud9 CEO] and the rest of the staff; how professional they were, how organized and how much infrastructure they had built for a small organization. We thought they were on their way. We looked at a lot of players, and they were the ones we put in the top tier.”