The gaming market is heating up with tech giants spending considerable amount of money to get an edge over one another. Amazon.com, Inc. (NASDAQ:AMZN) surprised the Street, when it bought Twitch, a company specializing in real time video game broadcast, for $1 billion as most people weren’t aware of video game viewing being such a big industry. Microsoft Corporation (NASDAQ:MSFT) also surprised the Street in its own way by purchasing Mojang, a company that created Minecraft, which was an unconventional success in the video game market. Mike Frazzini, vice president of games at Amazon.com, Inc. (NASDAQ:AMZN), was recently interviewed by CNBC on what he thinks about the recent acquisitions done by Amazon.com, Inc. (NASDAQ:AMZN) and Microsoft Corporation (NASDAQ:MSFT).
“When I look at that, I really look at the game and the content, the cool thing about Minecraft is it’s a game that you can play across devices, spans young, old. Really shows when you have creative new ideas in the games business and the experiences that you can create new and unique. All kinds of things that people never really thought were possible and Minecraft is an example of that,” Frazzini said.
Frazinni mentioned that Amazon.com, Inc. (NASDAQ:AMZN) is increasingly focusing on games. He feels that Amazon.com, Inc. (NASDAQ:AMZN) covers all the important aspects of the gaming market, from providing a retailing platform to providing cloud based infrastructure to game developers to run their back-end. He believes that Twitch is currently in a high growth phase and Amazon.com, Inc. (NASDAQ:AMZN)’s primary intentions are to first let it keep growing, it’s only when Twitch reaches a certain size that Amazon.com, Inc. (NASDAQ:AMZN) will look for experimenting and introducing new things on the platform.
As of June 30, 2014, Jeffrey Ubenn’s ValueAct Capital owns over 74 million shares of Microsoft Corporation (NASDAQ:MSFT) and Ken Fisher’s Fisher Asset Management owns over 2.4 million shares of Amazon.com, Inc. (NASDAQ:AMZN).