A social media streaming start-up established by two former Apple executives has received $100 million in backing from 21st Century Fox.
Caffeine, which has an emphasis on gaming and entertainment, had previously received $46 million from investors Andreessen Horowitz and Greylock Partners.
Following the investment Lachlan Murdoch, executive chairman of Fox, will also join Caffeine’s board of directors.
“The combination of the Caffeine platform with a content studio that benefits from Fox Sports’ expertise in live events and programming will help position Caffeine to deliver compelling experiences in esports, video gaming, and entertainment,” said Murdoch.
It has also announced an agreement with Live Nation that will allow it to stream live music concerts over its platform.
“We want to bring the world together around friends and live broadcasts,” said Caffeine CEO Ben Keighran. “It’s an ambitious goal, but one we believe is attainable with the support of our amazing new partners, our awesome and ever-growing community, and the content that together we can bring onto the platform.”
The Fox investment is part of a new strategy for Fox that is in the process of selling the bulk of its film and TV assets to Disney.
Caffeine is looking to enter a space largely occupied by Twitch and YouTube.
