Exit No. 7 – a big one for us

The next exit for Speedinvest, and this one is a big one for us.

Anybody close to Speedinvest (or even just close to me) knows about Hitbox, knows about the monumental struggle it was to build a global streaming media powerhouse out of tiny Austria – with small cheques, but tons of dedication, late nights, last minute saves and so on. Werner, my partner in crime here, and me collected more than 27 other investors who believed in the crazy vision of this company to take on Amazon, YouTube and all the other US powerhouses in one of the hottest tech sectors . Funny enough, Hitbox not only survived, but continued to thrive, showing a hockey stick in user growth that typically only exist in startup textbooks.

The team, the founders Martin, Rene and Markus are exceptional people. Few founders that I know would have weathered the perfect storm that Hitbox has been for the last three years as well as these guys. And few founders deserve a happy end as much as they do. Speaking of happy end, the merger with Azubu is really just the beginning. Merging #2 and #3 in eSports makes for a great story and the skill sets of these two teams could not be more complementary. They will need tons of cash to win in this game but now they are in a super strong position to get access to this capital.

For Speedinvest, this exit is big in many ways. Hitbox, coming from our first fund, was the single biggest investment we did, both in capital committed, in time invested and in risk taken. It’s nice to see when things work out in the end. And, by the way: the Hitbox office in Vienna will not only remain there, but it will grow tremendously in size as all tech related work will be concentrated here. Good for Hitbox, good for Vienna, good for Austria.

Anybody – founders, team, co-investors – who were involved here will testify that no lengthy blog entry can do justice to the efforts put in here.

So, all we want to say is THANK YOU. It’s been a blast.

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