eSports media and software business Esports Mogul (ASX: ESH) has added significant firepower to its ranks in the form of former Google, YouTube and Spotify managing director Kate Vale, who will join the company’s board with immediate effect.
Ms Vale is a veteran of the digital domain having obtained 24 years of experience as a senior executive and consultant across the digital media, social media and technology industries. She has held senior leadership positions with significant organisations including Google, YouTube and Spotify with Mogul hopeful it can leverage her contacts, acumen and expertise to expand its own market footprint in eSports.
Ms Vale said she intends to “build something special” within the burgeoning eSports ecosystem that has yet to crown a global powerhouse as its leading trendsetter.
The news comes on the back of positive interim results from Mogul, which last week reported “continuing exceptionally strong inbound interest” in the Mogul platform and referred to COVID-19 as “boosting interest” in the eSports sector.
According to the company, with COVID-19 making in-person eSports events and tournaments untenable for the foreseeable future, it has been actively promoting its platform as an “all-online solution”.
In a statement to the market, Mogul reported that at the end of June 2020, its cash reserves remained above $2.4 million with a quarterly net operating cash flow of approximately $489,000.
The result represented a 35% reduction compared to the previous quarter, which Mogul described as “prudent management” to ensure it avoids the need to tap the equity capital markets for additional funding.
Mogul announced Ms Vale will take on the official title of non-executive director and will join other high profile success stories on the company’s board including Canva co-founder Cameron Adams and founder of political movement MiVote, Adam Jacoby.
Mogul managing director Gernot Abl said Ms Vale’s introduction is a means of “structuring the Mogul board for success” with the company’s eSports platform expected to obtain a significant boost courtesy of Ms Vale’s digital sales and marketing expertise “adding incredible value to further shaping our market-fit and monetisation”.
“Kate will also bring a diversity of new insights and networks to Mogul. I couldn’t be more thrilled to have such high-quality people in Cameron and Kate by my side in the years to come,” Mr Abl added.
“Mogul’s world-class software suite is already delivering value for publishers, organisers and brands and their gamer communities,” Ms Vale said.
“The eSports eco-system is only nascent, which in my experience, presents great opportunities for a digital product to navigate and deliver value to rights-holders whilst meeting consumer needs,” she added.
Tried and tested
In order to establish a dominant market position and to take the lead in eSports globally, Mogul has turned to a decorated veteran with a proven track record in online media.
As managing director of Spotify in Australia and New Zealand, Ms Vale became the first regional employee to manage all aspects of the business in Oceania.
According to Mogul, she was “instrumental” in setting up the Asian operations in 2013 and driving music streaming in Australia to become the largest revenue source for record labels in the country.
As country manager for Google Australia and New Zealand, Ms Vale led operations to establish the company’s regional offices, including hiring and managing over 150 employees, and growing revenues from zero to US$500 million (A$691 million) over six years.
“Mogul’s strong tournament product brings communities together and Kate’s guidance on how Mogul can build bridges between players, organisers, and publishers’ gaps will be invaluable,” Mogul director Cameron Adams said.