Home / Gaming / In-game app-development platform Overwolf acquires CurseForge assets from Twitch to get into mods

In-game app-development platform Overwolf acquires CurseForge assets from Twitch to get into mods


In-game app-development platform Overwolf acquires CurseForge assets from Twitch to get into mods – TechCrunch

Overwolf, the in-game app-development toolkit and marketplace, has acquired Twitch’s CurseForge assets to provide a marketplace for modifications to complement its app development business.

Since its launch in 2009, developers have used Overwolf to build in-game applications for things like highlight clips, game-performance monitoring and metrics, and strategic analysis. Some of these developers have managed to earn anywhere between $100,000 and $1 million per year off revenue from app sales.

“CurseForge is the embodiment of how fostering a community of creators around games generates value for both players and game developers,” said Uri Marchand, Overwolf’s chief executive officer, in a statement. “As we move to onboard mods onto our platform, we’re positioning Overwolf as the industry standard for building in-game creations.”

It wouldn’t be a stretch to think of the company as the Roblox for applications for gamers, and now it’s moving deeper into the gaming world with the acquisition of CurseForge. As the company makes its pitch to current CurseForge users — hoping that the mod developers will stick with the marketplace, they’re offering to increase by 50% the revenue those developers will make.

Overwolf said it has around 30,000 developers who have built 90,000 mods and apps, on its platform already.

As a result of the acquisition, the CurseForge mod manager will move from being a Twitch client and become a standalone desktop app included in Overwolf’s suite of app offerings, and the acquisition won’t have any effect on existing tools and services.

“We’ve been deeply impressed by the level of passion and collaboration in the CurseForge modding community,” said Tim Aldridge, director of Engineering, Gaming Communities at Twitch. “CurseForge is an incredible asset for both creators and gamers. We are confident that the CurseForge community will thrive under Overwolf’s leadership, thanks to their commitment to empowering developers.”

The acquisition comes two years after Overwolf raised $16 million in a round of financing from Intel Capital, which had also partnered with the company on a $7 million fund to invest in app and mod developers for popular games.

“Overwolf’s position as a platform that serves millions of gamers, coupled with its partnership with top developers, means that Intel’s investment will convert into more value for PC gamers worldwide,” said John Bonini, VP and GM of VR, Esports and Gaming at Intel, in a statement at the time. “Intel has always prioritized gamers with high performance, industry-leading hardware. This round of investment in Overwolf advances Intel’s vision to deliver a holistic PC experience that will enhance the ways people interact with their favorite games on the software side as well.”

Other investors in the company include Liberty Technology Venture Capital, the investment arm of the media and telecommunications company, Liberty Media.

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VC investing totals appear lackluster”,”content”:{“rendered”:”

The second quarter’s venture capital results are coming into focus.n

The Exchange will have more notes on Q2’s venture results this week, but this morning we’re digging into our first dataset concerning what happened in the world of private capital from April through June.n

Crunchbase News — a place I used to work, it feels fair to note — ran its usual dig through the quarter’s venture results, effectively coming up with two answers to the question of what happened in Q2 VC. As it turns out, a single company’s fundraising made the quarter’s results look far better than they really were. Once we strip out that firm’s nonventure funding rounds, a clearer picture emerges.n


n

The Exchange explores startups, markets and money. You can read it every morning on Extra Crunch, and now you can receive it in your inbox. Sign up for The Exchange newsletter, which will drop every Saturday starting July 25.n


n

If you discount Reliance Jio’s epic — and continuing — ability to attract billions of dollars, the private investment market was slack in the second quarter. Per Crunchbase News, including the Reliance Jio deals, “Crunchbase recorded $69.5 billion invested across all funding stages for the second quarter specifically. This is up 17% quarter-over-quarter and down 2% year-over-year.” (Crunchbase has moved away from making projections, notably, and now discloses reported data in its quarterly results).n

""A gain of about one-sixth from Q1 2020 results was probably not what you expected, given the quarter’s nearly comical turbulence. But, with Reliance Jio’s fundraising bacchanal stripped out, results are much worse.n

Let’s talk about whether it’s fair to lean more on Reliance Jio-free data, and dig into what the data means for startups around the globe. We’ll also look at a few other megarounds from the period to see if there are any other distortive funding events lurking in the data.n

The bad newsn

Final global Q2 data exclusive of Reliance Jio’s Q2 deals, per Crunchbase data, shows investment declines in the period of -9% compared to Q1 2020, and -23% compared to the year-ago quarter. While some of that will be due to reporting lag — the thing that projections were initially built to countermand — the dips are still stark.n

Global Q2 VC does not look strong from this perspective.



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