Microsoft and Beam announced the acquisition today at 8:00 AM PDT (11:00 AM EDT).
In a blog post, Beam's Co-Founder and CEO Matt Salsamendi announced the acquisition. "As part of Xbox, we’ll be able to scale faster than we’ve ever been able to before. We’re expanding the team, bolstering our infrastructure, and most importantly, continuing to grow and support the amazing community at Beam", he wrote. (https://blog.beam.pro/its-just-the-beginning/)
In an email with TechCrunch, Salsamendi further conveyed his optimism, "I'm really excited about Xbox's focus on community ... Beam is fundamentally built on a connected group of passionate individuals that love gaming, and Xbox is super in tune with that”.
Some may have feared this first party acquisition would be limiting and bad business for Beam. Not so, says Salsamendi, "So what changes for you? Nothing right now; we’re continuing our focus on providing streamers with the tools they need to create the most interactive broadcasts around. Beam is designed to work with any game, and we’ll continue to offer broadcasts across all gaming platforms, just as we do today. "
Seattle-based Salsamendi will lead Beam from Microsoft's Redmond campus as part of the Xbox engineering department.
Beam participated in TechCrunch's Startup Battlefield earlier this year. After presenting subsecond stream delay and interactivity, the team walked away with the win. In this-then-this fashion, Microsoft began to pursue an acquisition shortly after.