News

Kabam bullish about IPO chances, but firm is 'following its own timeframe'

Kabam bullish about IPO chances, but firm is 'following its own timeframe'

Kabam has revealed it's still considering an IPO in the near future, but company VP Steve Swasey says the free-to-play specialist will not be pressured into an offering to please the press.

Speaking to PocketGamer.biz at the opening of the firm's new Berlin office, Swasey said Kabam's board was weighing up its options in the shadow of rival King's recent move on the market.

"The market is huge and addressable – you can't determine a company's long term success by the opening week of its IPO," said Swasey on King's IPO.

"Obviously, everyone wanted to see King rise 15 or more percent rather than decline on its opening day. But it's not unlike Facebook which, if you remember two years ago was a disastrous IPO, and it's come roaring back."

Royal approval

We're just so confident of the industry and our position within it.
Steve Swasey

Swasey said Kabam's situation is a touch different to King, with the firm spreading its success across numerous different licenses rather than just a core batch.

"We're so bullish about the industry," detailed Swasey.

"There are only two [mobile] companies that are giving investors full transparency because they're public and King is the second.

"We think that, especially for Kabam, there are so many different shaders for us – our games cover multiple genres, more core games, we have the full cover of platforms, our IP and Hollywood IP, the publishing and the mergers and acquisitions. No other company has all that. We're just so confident of the industry and our position in the industry."

Swasey opens Kabam's new Berlin office

Swasey concluded by confirming that Kabam's board is still "considering" an IPO, but he noted that the company does "everything purposefully".

"We have our own timeframe and we're not going to let others define it for us. We'll do it if and when it is the right time."

You can read our interview with Kabam Game Studio president Andrew Sheppard about the firm's new Berlin office here.

Tags:

With a fine eye for detail, Keith Andrew is fuelled by strong coffee, Kylie Minogue and the shapely curve of a san serif font.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies