StreamElements seeks acquisition as shutdown looms

A decade after its initial launch, StreamElements is in dire straits. The streamer platform is looking to be acquired after reports indicated that it would cease operations and shut down its website.

According to GamesBeat, a StreamElements staffer discussed the company’s flagging operations in a Discord server used to coordinate sponsorships. The staffer reported that StreamElements is preparing to “close its doors,” with its website set to remain open for the next 30 days. During that time, StreamElements users are advised to log in and save any desired assets. Outstanding sponsorship deals will be paid out.

“Thank you for all the incredible content and for being part of this community,” the staffer wrote. “If you have immediate questions regarding your active campaigns, please reach out as soon as possible.”

StreamElements got its start as one of several dashboards streamers can use to add overlays to their live broadcasts. As the company evolved, it brought brand deals to its partners while also sharing statistical insights related to streamer culture and prioritizing the enrichment of underrepresented creators.

Several funding rounds, including a $100 million Series B led by SoftBank, supported StreamElements’ expansion. It also grew through acquisitions; in 2021, it picked up the gaming multi-channel network Paragon

More recently, however, StreamElements struggled. It endured multiple rounds of layoffs over a seven-month span amid a broader period of belt-tightening in the tech industry. Earlier this year, Co-Founder and CEO Or Perry urged StreamElements users to “keep it live” by contributing to a fundraising event. At the time, Perry said that his company supported a user base consisting of 23 million creators.

To avert a potential shutdown, StreamElements is looking for a buyer. “We’re in positive discussions with potential acquirers and working to find the best path forward for creators, customers, and our team,” reads a tweet from the company. “We’ll share more updates soon. We’ve spent over a decade building for creators and will do everything we can to keep supporting this community.”

Whatever happens with StreamElements, creators will be left looking for answers. If the platform does shut down, many streamers will see their revenue decline as a result. Those users will be rooting for a solution that can keep the deals flowing.