When you're hot in the mobile games space, you're really hot.
That's the conclusion from Supercell's latest funding round.
The Finnish developer of Clash of Clans and Hay Day has reportedly sold a chunk of its stock to existing investors Institutional Venture Partners, Atomico and Index Ventures.
According to TechCrunch, which broke the story, Supercell is now valued at $800 million, with the new investment round raising between $100 to $150 million for between 16 to 20 percent of company equity.
The company's first VC round gained it $12 million from the likes of Accel Partners back in May 2011. Back then it was developing games for Facebook.
Get cash when you don't need it
The background to the move is Supercell's amazing ability to make cash.
It only has two games available, and only on iOS, but is generally thought to be generating more than $1 million per day.
Ironically, this means that the 90-strong team doesn't actually need the investment in terms of operations, marketing or user acquisition.
Instead the deal more likely occurred to enable the founders and original set of investors to cash out with serious money, while providing the larger venture capitalists more stability in terms of their ownership for whatever happens next to the company (especially if it decides to IPO in the medium term).
The only other alternative would be for Supercell to start making some serious acquisitions with the cash to boost its position in a very fast growing market, although this seems more unlikely.
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
Feature
May 14th, 2024
Matej Lančarič's Squad Busters deep dive: Under the skin of 2024's biggest launch yet
Feature
May 7th, 2024
Mobile Mavens: The industry has its say on Squad Busters ability to draw in “untapped audiences” with its “influence from a range of genres”
Top Stories
Feature
May 14th, 2024
Matej Lančarič's Squad Busters deep dive: Under the skin of 2024's biggest launch yet
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Events
Valencia Indie Summit 2024 | Europe | May 16th |
Mobidictum Meetup Berlin May 2024 | Europe | May 16th |
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
Morocco Gaming Expo | Africa | May 24th |
Popular Stories
News
May 9th, 2024
A third of developers implementing new payment options in face of Digital Markets Act’s $18 billion opportunity
News
May 10th, 2024