Caffeine, a streaming platform which began in 2018 and had raised over $140 million, shut down today. “All good things come to an end,” it says when you log on to their website.
Earlier this year, Caffeine announced an agreement to be the Friday home of LIV Golf. It had also been carrying live sports from the World Surf League and the Women’s National Football Conference.
21st Century Fox had been a major investor at the start of the project, investing $100 million.
A message on the website said, “We’re at the point where we are still not quite profitable, so we’ve made the decision to end the service as of June 26th as we figure out our next steps. It has been a wild ride, with quite a few achievements along the way.”
The post then noted the platform had grown to 61 million monthly users and 4 million per day and that they were aggregating 200 sports partners across 17 categories of sports.
