Animoca Brands acquires digital marketplace Quidd for up to $8 million

$8 million was raised in strategic capital funds

Date Type Companies involved Size
August 9th, 2019 Animoca Brands $8m
Animoca Brands acquires digital marketplace Quidd for up to $8 million

Hong Kong-based publisher Animoca Brands has acquired digital goods company Quidd for up to $8 million in a shares only deal.

$5 million is payable up front with a possible US$3 million in earnout payments dependent achieving yearly net profit of $1.25 million, $1.5 million and $2 million over three years.

Quidd was launched in 2016 and has a raft of digital collectables licenses and partnerships, with over 325 individual brands including Disney, Marvel, HBO, CBS and the NBA.

To date Quidd has sold over 2.1 billion digital collectables to 6.8 million users and has an average of 208,000 monthly active users in the first half of 2019.

Future plans

To help fund the deal and expand Quidd into new markets, Animoca has completed a strategic capital raise of $5.43 million. The acquisition is expected to be completed within the current quarter.

“Here at Animoca Brands, we are incredibly excited to welcome the highly talented team behind Quidd, who will assist us in the execution of our vision for branded digital collectables,” said Animoca Brands co-founder and chairman Yat Siu.

“Our brand portfolio will grow substantially through this acquisition, and we look forward to working with even more of the world’s most powerful intellectual properties such as Marvel, Game of Thrones, Star Trek, the NBA, and many others."

Quidd co-founder and CEO Michael Bramlage added: “From the beginning, we’ve held a strong conviction that digital collecting would contribute meaningfully to the $15 billion physical collectibles industry.

“By joining the Animoca Brands family, we will accelerate our mission to bring Quidd’s inimitable catalog of digital collectibles to a global audience and to enable true digital ownership for millions of mainstream digital collectors.”

Staff Writer

Kayleigh is the Staff Writer for Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.