Co-founder and CEO of Cloud9, Jack Etienne, announced on January 1st that the team's financial performance for the year 2023 was profitable. This comes as a positive development at a time when many teams in the esports industry are facing financial difficulties.
In particular, Evil Geniuses, the Champions of Champions 2023, disbanded departments for LoL, Dota2, and Valorant GC, and G2 Esports acquired Version1. Despite these challenges, Cloud9 managed to return to profitability, making the year remarkable for them. Jack Etienne expressed gratitude for the opportunity to work with outstanding players, staff, partners, and the best fans in the world.
Cloud9 also found success in 2023 with the signing of yay, who previously played for OpTic Gaming. However, before the start of the AMERICAS League, it was announced that yay would be leaving due to "internal team issues."
2023 has been an incredible year that brought Cloud9 back to profitability despite difficult conditions in our industry. I’m blessed and grateful to be working with exceptional players, staff, and partners with the best fans in the world!
— Jack Etienne (@JackEtienne) January 1, 2024
Happy New Year! 🎆
At the time, Jack Etienne stated that the expenses for this team were very high, and despite high expectations, they were not justified. This led to speculations that parting ways with yay was related to the player's high salary.
In the upcoming season in Valorant, "team skins" will be introduced, which is likely to become a significant source of income for teams participating in the international league.
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