The Esports Mogul Ltd (ASX: ESH) share price is up 250% since this time 2 months ago when it was 0.4 cents. The software company's share price is currently trading at 1.3 cents.
Why is the share price soaring?
Esports Mogul has released a string of good news in the last 2 months which has likely supported its share price.
The good news started in early August with the announcement that former Spotify boss Kate Vale would join the Esports Mogul board as a non-executive director. In addition to her experience with Spotify, Vale has worked in leadership positions for YouTube and Google and has 24 years' experience in digital media, social media and technology. Commenting on her appointment, she said the esports eco-system was still in its early stages, which created opportunities for returns to shareholders.
Esports Mogul later announced it had appointed Michael Rubinelli as the new CEO. A former Electronic Arts, Midway and Disney executive, Rubinelli has 20 years' experience in executive leadership, product development and revenue growth. He also has experience leading a startup gaming company, and helped Disney to produce games which generated more than US$500 million in revenue.
In the company's half year report to 30 June 2020, released in late August, Esports Mogul announced that revenue had soared 266.66% to $161,242. This came as the company promoted itself as a wholly online esports tournament provider while in-person tournaments were unavailable due to COVID-19.
Earlier this month, Esports Mogul announced a partnership with Buriram United, a leading football club in Thailand, to provide a branded hub for gaming tournaments. The company said the partnership had already generated 1000 paying subscribers.
Also in September, Esports Mogul announced it was improving matchmaking for the popular gaming title Fortnite to allow customised matchmaking. Rubinelli said the company looked forward to working with the Fortnite community for years to come.
About the Esports Mogul share price
Esports Mogul is a software company that provides an online platform for esports player matchmaking and tournaments. It offers its platform for some of the world's most popular esports titles. Esports Mogul has been listed on the ASX since 2011.
Th Esports Mogul share price is up 367% since its 52-week low of .3 cents. It is up 40% since the beginning of the year and 40% since this time last year.
