Buzzer, the Gen Z Sports App Backed by $44 Million, Shuts Down After Two Years

Buzzer, the sports streaming app backed by Michael Jordan, Kevin Durant, and other stars, has announced its shutdown after raising $44 million in total investment. The app was founded in 2020 and aimed to provide a personalized sports experience for Gen Z users. However, the company struggled to gain traction and compete with established players in the sports streaming industry.

In May 2023, Buzzer announced that it would pivot to a B2B model, offering its technology to media companies and sports leagues. However, just two months later, the company announced its closure. In a statement, Buzzer CEO Bo Han cited the challenges of building a consumer-facing product in a crowded market, as well as the difficulty of pivoting to a B2B model.

The closure of Buzzer highlights the challenges faced by startups in the sports streaming industry. While the market is growing rapidly, it is also highly competitive, with established players like ESPN and Fox Sports dominating the space. Additionally, the cost of acquiring sports rights has skyrocketed in recent years, making it difficult for new entrants to compete.

Despite its closure, Buzzer’s technology may live on. The company has reportedly been in talks with several media companies and sports leagues about licensing its technology. If successful, Buzzer’s legacy may be as a provider of innovative sports technology rather than a consumer-facing app.

Buzzer’s shutdown is a reminder of the challenges faced by startups in the sports streaming industry. While the market is growing rapidly, it is also highly competitive, and the cost of acquiring sports rights is a significant barrier to entry. However, Buzzer’s legacy may live on through its innovative technology, which could be licensed by other companies in the future.