Amazon to Buy Video Gaming Site Twitch for More Than $1B
Amazon has agreed to buy video gaming website Twitch for more than $1 billion, according to reports. Twitch allows players to live-stream videogames. The deal could be announced as soon as Monday.
The acquisition would help Amazon cement its position as a leader in the online gaming sector. It would also give it the technological capacity to rival the likes of YouTube and Netflix. According to reports, Amazon is not the first major company to express an interest in Twitch – both Google and Yahoo have also registered an interest in the company.
Twitch was founded in June 2011 and is the most popular online website for watching and broadcasting videogame play. According to network researcher DeepField Inc. Twitch is also the fourth largest source of U.S. Internet traffic.
Amazon has been ramping up efforts in the gaming sphere in recent months, by swelling the number of developers and programmers located at its studios in Seattle and Southern California. The company has introduced several new videogames to complement its Fire TV set-top box, introduced in April, and sells a devoted controller for gaming. Twitch offers an app on Amazon's set-top box, as well as the Xbox and PlayStation 4.
Twitch generates revenue from advertising in its games and from subscribers who pay a few dollars per month to watch. In February, Twitch said it had more than 45 million monthly unique visitors.
The online gaming company raised $20 million from investors, including Bessemer Venture Partners, Thrive Capital and videogame-maker Take-Two Interactive Software Inc. Twitch is the most successful of several products to be spun out of Justin.tv, one of the earliest streaming-video sites on the Web, founded in 2006 by Justin Kan and Kyle Vogt.
Amazon and Twitch have yet to make a comment about the acquisition.
News of the acquisition was earlier reported by tech website The Information.
Intelliwave SiteSense boosts APTIM material tracking
“We’ve been engaged with the APTIM team since early 2019 providing SiteSense, our mobile construction SaaS solution, for their maintenance and construction projects, allowing them to track materials and equipment, and manage inventory.
We have been working with the APTIM team to standardize material tracking processes and procedures, ultimately with the goal of reducing the amount of time spent looking for materials. Industry studies show that better management of materials can lead to a 16% increase in craft labour productivity.
Everyone knows construction is one of the oldest industries but it’s one of the least tech driven comparatively. About 95% of Engineering and Construction data captured goes unused, 13% of working hours are spent looking for data and around 30% of companies have applications that don’t integrate.
With APTIM, we’re looking at early risk detection, through predictive analysis and forecasting of material constraints, integrating with the ecosystem of software platforms and reporting on real-time data with a ‘field-first’ focus – through initiatives like the Digital Foreman. The APTIM team has seen great wins in the field, utilising bar-code technology, to check in thousands of material items quickly compared to manual methods.
There are three key areas when it comes to successful Materials Management in the software sector – culture, technology, and vendor engagement.
Given the state of world affairs, access to data needs to be off site via the cloud to support remote working conditions, providing a ‘single source of truth’ accessed by many parties; the tech sector is always growing, so companies need faster and more reliable access to this cloud data; digital supply chain initiatives engage vendors a lot earlier in the process to drive collaboration and to engage with their clients, which gives more assurance as there is more emphasis on automating data capture.
It’s been a challenging period with the pandemic, particularly for the supply chain. Look what happened in the Suez Canal – things can suddenly impact material costs and availability, and you really have to be more efficient to survive and succeed. Virtual system access can solve some issues and you need to look at data access in a wider net.
Solving problems comes down to better visibility, and proactively solving issues with vendors and enabling construction teams to execute their work. The biggest cause of delays is not being able to provide teams with what they need.
On average 2% of materials are lost or re-ordered, which only factors in the material cost, what is not captured is the duplicated effort of procurement, vendor and shipping costs, all of which have an environmental impact.
As things start to stabilise, APTIM continues to utilize SiteSense to boost efficiencies and solve productivity issues proactively. Integrating with 3D/4D modelling is just the precipice of what we can do. Access to data can help you firm up bids to win work, to make better cost estimates, and AI and ML are the next phase, providing an eco-system of tools.
A key focus for Intelliwave and APTIM is to increase the availability of data, whether it’s creating a data warehouse for visualisations or increasing integrations to provide additional value. We want to move to a more of an enterprise usage phase – up to now it’s been project based – so more people can access data in real time.