Caffeine is a live streaming platform that focuses on gaming, sports, and entertainment content. It has attracted significant investment, with a total of $146 million raised to date from three rounds of funding led by 21st Century Fox, Andreessen Horowitz, and Greylock Partners. In September 2018, Caffeine secured a $100 million investment from 21st Century Fox, and Lachlan Murdoch, the chairman of 21st Century Fox, joined Caffeine's board of directors. In addition, a joint venture called Caffeine Studios was formed to produce exclusive content for Caffeine's audience, including gaming, esports, sports, and live entertainment.