Alt Tab Productions, a Paris, France-based Esports company and the owner of OGaming.TV, raised €2.5m in funding.
Millennial Esports Corp. (TSX VENTURE:GAME) made the investment at a pre-money valuation of €4m to be completed in two closings. The first closing, with respect to €1.125m, has been completed and the second closing, with respect to the remaining EUR 1.375m, will occur within 90 days.
Upon completion of the investment, Millennial Esports will own 38.46% of the Alt Tab shares on a non-diluted basis.
Led by Alexandre Noci, President, Alt Tab productions has been a leading online French TV network since 2010, dedicated to the broadcasting and creation of Esport programs & events. Alt Tab partners up with publishers and tournament organizers (Blizzard, Riot Games, OGN, Dreamhack), Online Talents (the best casters, youtubers and streamers) and broadcasting platforms (Youtube and Twitch) to provide top Esport content on dominant Esport titles, to a monthly average audience of 2.2 million unique and engaged viewers in 2017.
The company provides marketing activations through native advertising and sponsoring to brands that look for leads and reach in the Y generation, through the gaming and Esport discipline.