Five Below, along with Comcast, SeventySix Capital, Elevate Capital and angel investor George Miller, invested $12 million in Nerd Street Gamers, an esports infrastructure company. Five Below led the Series A funding round, according to a press release emailed to Retail Dive.
As part of the deal, Five Below and Nerd Street Gamers will build 3,000-square foot Localhost spaces connected to an undisclosed number of Five Below stores and will host live, in-person events played using professional-level equipment. The test will begin with a multi-store pilot in 2020 and, if successful, could scale to 70 or more locations over the next few years, per the press release. . . . more