A Gaming Startup That's Actually Profitable Is Now Worth $700 Million
But none of the money will go to the company itself, Kabam CEO Kevin Chou said in a statement.
“It’s all going to employees who wish to sell their shares, and it’s of course a voluntary program," Chou said.
Kabam is best known for games like Kingdoms of Camelot and The Fast & Furious 6: The Game. Last year, it saw $180 million in revenue, up 70% from the year before.
Chou has previously said that he expects to take the company public by the end of 2014. But Kabam declined to comment on an IPO to the WSJ.
Kabam's success is proving that the gaming business can be a highly lucrative one, despite what happened with
Since going public in 2011, Zynga has been in a downward spiral. Earlier this month, its founder Mark Pincus recently gave up his chief executive title to former Xbox boss Don Mattrick.
Unlike Zynga, Kabam has been able to tackle mobile very well, rather than just relying on Facebook to reach users.
Kabam has $50 million in the bank and expects revenues of more than $300 million this year.
- Biopharmaceutical mergers and acquisitions surge to new highs
- Coal's share in India's power generation capacity drops below 50% for 1st time since 1960s
- From adaptation to transformation – Lessons from Freecharge’s digital transformation
- Promising new brain-reading tech can decode internal speech, but can it give Musk’s Neuralink a run for its money?
- Rupee rises 4 paise to 83.47 against US dollar in early trade
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market