Lyft, considered to be the Uber’s largest competitor in the U.S., has hired the majority of employees from Kamcord. Lyft did not acquire Kamcord itself, or its livestreaming tech, but 12 out of 15 employees of Kamcord’s will join the ride-sharing company.
“We fell in love with the people at Lyft and what they envisioned,” Rathnam said. “These are some spaces that are going to see a lot of changes in the next 10 years. Transportation is one of them. I would say cryptocurrency is another.”
The company has not disclosed the terms of the acquisition. All employees from Kamcord will be moving to Lyft’s San Francisco headquarters. Also, broadcasters currently with Kamcord are moving to other platforms like Amazon’s Twitch.
Kamcord technology had a very popular background, with more than 2 million people using their livestream videos or mobile gameplay. However, Kamcord stopped releasing a mobile gameplay SDK in 2015 to divert their work towards mobile game livestreaming.
“We focused on broadcasting your phone screen from 2015 through 2017 but ultimately ran into issues with market size: [We] couldn’t grow beyond 2 million monthly active users. We experimented with a number of new ideas, like Flare, but will be sunsetting them,” Rathnam said.
Rathnam also mentioned that Kamcord’s engineering, design, and marketing teams will join Lyft.
“I’ll be working on the Driver Product and am focused on creating experiences that will fit in better with our drivers’ lives and will allow them to be very successful on the Lyft network,” he said. “My cofounder Kevin [Wang] is an engineering manager for the passenger app, focusing on the core experience from app open to successful pick-up.”
Soon after the Kamcord deal, Lyft announced on Monday that they are expanding services to Toronto, Canada for their first ever international market.
“We’re eager to continue our streak of building cutting-edge technology, creating delightful experiences, and helping people earn extra income,” Kamcord said in a blog post.