gaming-weekly-23

GGP Gaming Weekly – Week 23

Highlights

Netmarble releases FQ1 2021 earnings (link)

  • Netmarble generated $512M in revenue representing a 7% increase YoY and $56M of net profit representing an 8% increase YoY
  • North America accounted for 36% of the revenue, with Korea accounting for 29%, Europe for 12%, and Japan for 9%
  • Netmarble’s top game, The Seven Deadly Sins: Grand Cross accounted for 15% of revenue, with MARVEL Contest of Champions accounting for 12%, and Seven Knights 2 for 11%

Nvidia quarterly revenues grow 84% to $5.66B (link)

  • Nvidia reported revenues of $5.66B for its first fiscal quarter ended May 2, up 84% from a year earlier
  • Gaming revenue grew 106% to $2.76B, exceeding Wall Street’s expectations
  • The Santa Clara, California-based company makes graphics processing units (GPUs) that can be used for games, AI, and datacenter computing
  • The Company saw record revenue in its gaming, datacenter, and professional visualization platforms

M&A and Capital Raising

E Virtuix raises $19M for Omni One VR treadmill (link)

  • The Austin, Texas-based Virtuix will use the proceeds to launch Omni One, an omni-directional treadmill for consumers that lets players walk and run inside games and virtual worlds
  • Virtuix’s Reg A campaign allowed anyone to purchase shares in Virtuix, and the minimum investment was only $1,000. More than 6,500 investors participated in the round

Esports brand Fnatic raises $17M for Asia expansion (link)

  • The investment from Marubeni and other investors will help the Company expand in the growing Japanese and Asia Pacific esports markets
  • The investment will accelerate Fnatic’s growth in the substantial Asia-Pacific market with a new strategic partnership that will incorporate the expansion of Fnatic’s base of operations in Japan and support for its Rainbow Six: Siege team, which plans to relocate to the country
  • The Company was founded in 2004, and it has raised $53M to-date with 110 employees

Double Loop raises $8M for mobile game development (link)

  • Hiro Capital led the round for the female-run game studio with additional participation from Garena, Riot Games, London Venture Partners
  • The studio aims to create games for all types of players, designed to be social, relaxing, and accessible
  • Double Loop has 14 employees, and it is hiring at least four more to handle production and is currently focused on development of its mobile puzzle hybrid game

1047 Games raises $6.5M to develop free-to-play shooter Splitgate (link)

  • Based remotely and in Zephyr Cove, Nevada, the game studio already launched Splitgate in early beta form in 2019 to positive reception
  • Galaxy Interactive led the round, with participation from VGames, Lakestar, and 1Up Ventures
  • It will now use the funding to substantially increase the production of in-game content and ramp up marketing efforts to acquire new players

Noice raises $5M for ‘playful’ social platform for gamers (link)

  • Noice has said it is developing a platform that combines user-generated content, deep game systems, and engaging social design
  • The new platform is in early testing and is seeing high user engagement
  • Noice has 8 team members, and it is hiring for over 15 roles
  • The Company will use the raised funds to build the Noice platform with the goal of launching in an open beta of the platform in early 2022

Miniclip acquires Supersonic Software (link)

  • UK-based mobile gaming company Miniclip has acquired Supersonic Software and its subsidiary Appy Nation for undisclosed consideration
  • Supersonic is focused on casual puzzle games such as Puzzle Page, Picture Cross and World’s Biggest Crossword

Others

Epic Games launches Unreal Engine 5 early access, shows massive 3D scenes (link)

  • After years of work, Epic Games is launching early access for game developers for Unreal Engine 5, the latest version of the Company’s tools for making games with highly realistic 3D animations
  • Unreal Engine 5 will deliver the freedom, fidelity, and flexibility to create next-generation games, said Nick Penwarden, the vice president of engineering, in an interview with GamesBeat
  • Founded in 1991, Epic now has 3,200 employees

 

Sony confirms it's exploring "mobile market with some wonderful PlayStation franchises" (link)

  • Sony has confirmed its intentions to move into the mobile market by exploring the sector with a number of PlayStation franchises during a corporate strategy meeting on May 25th
  • “Mobile is just one of the areas we are exploring to reach millions of gamers beyond our platforms,” said Sony Interactive Entertainment CEO Jim Ryan. “We are exploring the mobile market with some wonderful PlayStation franchises so please stay tuned"
  • Sony Pictures is adapting a number of game franchises for film and TV, with 10 projects noted to be in various stages of development

Gaming Public Multiples

Tags: No tags

Comments are closed.