WWE invests money in eSports Organization Cloud9

ESPN is reporting that the WWE seems to want to get into the esports game as it is putting some of its money into Cloud9, who runs eSports teams in games like Overwatch, League of Legends, Counter-Strike and others. The company will join others in putting a total of $25 million into Cloud9.
WWE’s Chief Strategy and Financial Officer George Barrios said of the investment, “We just looked around the space, looked at all the players and did our own evaluation of who we thought would be successful in the long term. We just thought that the Cloud9 team had developed lots of expertise and we’re just really, really impressed with Jack [Etienne, the Cloud9 CEO] and the rest of the staff; how professional they were, how organized and how much infrastructure they had built for a small organization. We thought they were on their way. We looked at a lot of players, and they were the ones we put in the top tier.”
Cloud9 was recently given a London franchise for Blizzard’s Overwatch League. They also earned a spot on the League of Legends Championship Series. The money is said to be for Series A financing, the first round of venture capital financing. as it is estimated that these ventures itself cost around $30 million.