San Francisco: Sports live-streaming app Buzzer, which is backed up by celebrities like Michael Jordan, Kevin Durant, Naomi Osaka, and others, has announced its decision to shut down.
The sports start-up signed rights deals to stream the NBA, WNBA, NHL, PGA Tour, and the ATP Tour.
"With a heavy heart, we are formally winding down our operations. Recent fundraising developments and market dynamics have informed this outcome, despite our very best efforts to continue building Buzzer," the company said in a statement posted on Twitter.
The app, founded in 2020 by its CEO Bo Han, has raised $44 million in total investment to target Gen Z sports fans.
"Since our founding, Buzzer aimed to reimagine live sports consumption in partnership with rights holders, facilitating connection with Gen Z fans and addressing the generation gap in live viewership facing our industry, first as a D2C mobile app, and recently as a technology provider," the tweet further said.
Buzzer said that despite the difficulty of this moment, it's important to recognize the relentless, talented team who built and delivered a truly new way to watch live sports and reached hundreds of thousands of fans in the process.
With inputs from IANS