Buzzer, the streaming startup backed by Michael Jordan, Kevin Durant, and other stars, announced Friday that it would shut down.
The company raised $44 million in total investment for its app to target Gen Z sports fans. Investors included Jordan, Durant, Wayne Gretzky, Patrick Mahomes, LaMelo Ball, Naomi Osaka, Nick Kyrgios, and owners of the Philadelphia 76ers, Golden State Warriors, Washington Nationals, Minnesota Vikings, and Tampa Bay Lightning.
Buzzer was founded in 2020 and launched its mobile app in 2021 for fans to stream parts of live sporting events on their phones in exchange for making micro-payments as low as $1. The startup signed rights deals to stream the NBA, WNBA, NHL, PGA Tour, and the ATP Tour.
On May 19, Buzzer shut down its consumer app and announced it was becoming a technology provider for businesses to license its streaming product. The shift from B2C to B2B didn’t work.
“As of today and with a heavy heart, we are formally winding down our operations,” Buzzer said. “Recent fundraising developments and market dynamics have informed this outcome, despite our very best efforts to continue building Buzzer.”
Buzzer’s founder and CEO Bo Han was previously the director of live content on Twitter, where he worked since 2012 and helped lead the company’s global sports content partnerships.
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