100 Thieves president explains why making profit isn’t their priority

100 Thieves president explains why making profit isn’t their priority

Ever since 100 Thieves came onto the scene in late 2017, it’s been very clear that they’ve had ambitions beyond simply being an esports organization. The approach to their three core businesses of competing, content, and clothing have allowed them to stand out from the crowd. Four years and millions of dollars raised later, 100 Thieves are a multimedia and gaming company valued at $460m with an army of popular creators and players under their banner.

100 Thieves

One of the key people in their ascension, president and COO John Robinson, was recently featured on a podcast with sports business enthusiast Joe Pompliano to discuss all things Thieves. Having recently raised $60m in their Series C funding round, 100 Thieves have proven themselves to be among those at the forefront of esports and gaming entertainment, and the conversation was as wide-ranging as the org’s ambitions. The investment they’ve received and the health of the business were two major topics throughout.

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The business empire of 100 Thieves

$60m is a lot of money for any company in esports, especially considering 100 Thieves have previously raised plenty in the past. They received a multimillion-dollar investment from Cleveland Cavaliers owner in 2017, $25m in a round led by Drake and Scooter Braun in 2018, and $35m in July. We’re all big enough believers that there’s so much growth that’s going to happen in this industry, making bets now for the future that we think we could pay off was the right way to go.

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Rather than take the more conservative approach, we’ve gone down the more optimistic and opportunistic path forward. “In a lot of ways, 2021 is the closing of the first chapter of 100 Thieves. We feel like we really delivered against all the promises we made. Now we’ve raised more money, we’re excited to expand and go after some even bigger opportunities.”

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