CVC Capital Partners backs Chess.com
The world's largest online chess platform gains a new investment partner as CVC looks to apply its sports and media expertise to further global growth.
Takeaways
- Chess.com is a world's largest online chess platform.
- CVC Capital Partners is acquiring Chess.com.
- The business serves global chess community.
Chess.com, the world's largest online chess platform, has secured an investment from CVC Capital Partners, with existing shareholder General Atlantic retaining its stake.
The platform counts more than 250 million members and roughly 10 million daily active users across its live play, puzzles, lessons, and tournament coverage offerings.
CVC intends to apply its 25-year track record in sports, media, and community platforms to support the company's next phase of global expansion.
Founder Erik Allebest continues as CEO, while Goldman Sachs advised the company on the transaction.
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