100 Thieves has made its first acquisition.
The creator-founded esports, streaming, and apparel organization announced today that it has acquired Higround, a startup that produces luxe, often limited-edition keyboards and keycaps.
For those unfamiliar with 100 Thieves, it was founded by former Call of Duty pro Matthew Haag in 2017. To date, the org has raised more than $60 million from investors like Scooter Braun, Jeffrey Katzenberg’s WndrCo, Salesforce CEO Marc Benioff, and Drake. It operates out of a 15,000-square-foot Culver City headquarters, which opened earlier this year thanks to 100 Thieves’ deal with title sponsor Cash App.
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Higround, meanwhile, was cofounded by gaming hardware collectors Rustin Sotoodeh and Kha Lu in 2020. The company is reminiscent of buzzy, drop-based brands like MSCHF and Supreme: it puts out new, graphics-heavy products every month, often in collaboration with big names like Beats by Dre and Complex.
In a press release, 100 Thieves said it plans to “serve as an accelerator” for Higround.
Welcome @Higround to 100 Thieves!
Higround is a lifestyle brand whose unique keyboards sit at the intersection of peripherals, collectibles, and gaming culture. Higround is our first-ever acquisition & we’re excited to help them build for years to come.#100T #LookBetterUpHere pic.twitter.com/c7KOlWVCXH
— 100 Thieves (@100Thieves) October 13, 2021
Haag told The Verge that 100 Thieves plans to have Higround continue operating as a fully independent company.
“What we want to help Higround do is just accelerate their growth,” he said. “We don’t want to take over their identity, we don’t want to go too far deep into 100 Thieves injecting its DNA into Higround.”
Sotoodeh added that with 100 Thieves’ support, Higround hopes to expand beyond limited-quantity drops to producing more items that’ll always be available in the company’s digital storefront. (Higround appears to currently have one non-drop item on offer, its Sandstone/Skystone keyboard, but that’s sold out at press time. The other two keyboards in its shop are from its collab with Complex. All three retail for $135 each.)
Financial details of the acquisition were not disclosed.
The companies did, however, reveal that to mark their new partnership, they will release a “special product capsule” comprising a hoodie and custom keyboard. That capsule will go on sale in Higround’s shop on Oct. 15 at 3 p.m. Eastern.
Asked if 100 Thieves is eyeing any more acquisitions, Haag told The Verge, “Right now, Higround is the main focus, and we’re excited to invest all of our resources and all of our time into helping them succeed. And then we’ll see what comes down the road in the future.”