Twitch has been the sole competitor in the eSports streaming segment since a long time. The Amazon owned company has had several competitors in the past. These include Azubu, Hitbox etc. Azubu has been one of the earliest companies to challenge Twitch. However a peculiar investment schedule meant that Azubu were not able to compete with Twitch for the most part. Investments into the company came in the form of staggered support. The investors were not aware of the esports scene and tried to attain profits in the short term.
With a lack of a sizeable audience, it has obviously backfired. Twitch has had no scratch on their viewer base.
Sapinda drip-fed funds — $1 million or so a month — in a tactic intended to accelerate the company’s march toward profitability. In effect, the strategy constrained budgeting, confused unpaid vendors and frustrated employees with late paychecks, according to interviews with 10 people close to the company.
You can read the report in detail about the financial dealing and future plans for Azubu in 2017. Azubu is apparently looking forth to buy out rival Hitbox for tens of millions of dollars. This will put them in a premier place with regards to the viewership numbers.