Company behind game streaming platform Shadow confirms to look for new owner

The French company Blade confirms that it is looking for new investors. It would be in advanced discussions with potential buyers. With this, Blade hopes to continue to offer its game streaming service Shadow.

Blade reports that a “fresh new start” is needed for Shadow and that a reorganization is coming to free itself from debt. With this, the company confirms previous reports that it is in financial trouble and is struggling to keep its head above water. The company has filed for suspension of payments in France and the United States.

Stéphane Héliot, co-founder of Shadow, reported on Twitch that talks with potential buyers are underway and that he hopes an offer will be made in the coming weeks. Within two months, there should be more clarity about the fate of Blade and Shadow.

In a faq, the company tries to reassure Shadow customers by stating that their subscription will remain as it is. Shadow Ultra, Infinite and Boost pre-orders will also remain as they were, but the release of Shadow Ultra and Shadow Infinite in California and New York has been halted.

The problems come after a turbulent year for Blade, when it switched from cloud provider OVHcloud to 2CRSi, one of its shareholders, and saw one of the company’s founders, Emmanuel Freund, leave, along with several employees. Despite investments of millions in 2020, the company was therefore unable to take advantage of the opportunities that existed to acquire new customers.