Economics

Counter-Strike World Champions Aim for First Esport Team IPO

Denmark’s Astralis team plans to go public on December 9
Esports industry is growing fast and is now worth $1.1 billion

The Astralis Counter-Strike: Global Offensive team lift the StarLadder Major 2019 trophy, in Berlin, in September.Source: Astralis Group

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By Nick Rigillo

November 29, 2019 at 5:00 AM UTC

Updated on

November 29, 2019 at 11:38 AM UTC

This article is for subscribers only.

Denmark’s Astralis is set to become the first esports team to go public in a bid to cement its status in a $1.1 billion global market that’s more than doubled since 2016.

Astralis is ranked the world’s number one in Counter-Strike: Global Offensive, a popular first-person shooting game, and has won millions of dollars in tournament prizes. The success has earned it commercial endorsements with brands such as Audi and Logitech. Now operating as a media company, the Astralis Group has expanded with teams competing in League of Legends and EA’s FIFA.