Former HP and eBay CEO Meg Whitman is "jumping into esports" and has invested in L.A.-based franchise Immortals, where she "will join its board," according to Maureen Farrell of the WALL STREET JOURNAL. A source said that it "isn’t clear how much" she put in, but Whitman’s investment "values the company at more" than $100M. Ahead of Whitman’s investment, Immortals had "already landed backing from high-profile investors," including investor Michael Milken’s family office, Lionsgate Entertainment and AEG. Immortals Founder & CEO Noah Whinston said that the investment from Whitman "didn’t come as part of a larger round," but "was done outside of the company’s fundraising timetable in order to add someone with her expertise to the board." Whinston said, “I’ve always been very interested in what she did at eBay, which was to take a much more niche community-oriented site and turn it into something mainstream.” Whinston added that the company is "years away" from an IPO (WALL STREET JOURNAL, 7/24).
For more coverage of the business of esports, visit our partners, esportsobserver.com.
