Kabam revenues exceed $200m

Kabam revenues exceed $200m
Aaron Lee

By Aaron Lee

January 29th 2013 at 11:20AM

Social games maker looks to be another IPO candidate

Social and mobile games maker Kabam revenue has exceeded $200m in revenue in 2012.

The San Francisco social games company has not disclosed its earnings, but has confirmed it has been profitable.

The company is not obliged to disclose its financials, but social ad mobile games company looks to be in the running for an initial public offering (IPO), as Bloomberg has pointed out.

“Kabam blew past its plan in 2012,” said Kabam co-founder and CEO Kevin Chou in a statement.

“At this time last year we forecast 2012 revenue to grow by 30 per cent to 40 per cent. Because of our team’s focus on strategic growth across diverse game genres and platforms, including mobile and the web, we exceeded our own expectations and entered 2013 with an annualised run rate in excess of $200 million.

“We have built what is now well more than a $100 million-plus annualised mobile business in less than one year with a slate of exciting new games across multiple genres.”

The social games maker’s fastest growth area has been in the mobile sector, where its games are popular on both iOS and Android.

Chou added: “Kabam is leveraging its franchise intellectual property and technology to become the leader in free-to-play games on mobile devices in the Western world.”

Kabam develops free-to-play strategy games, and has some licences to its name, which include The Hobbit and The Godfather.

Kabam has raised more than $120 million in investment, including $75 million from a funding round in May 2011.

Back then, Kabam was valued at more than $500 million by investors including Google Ventures, Intel Capital, Redpoint Ventures and Canaan Partners. And VentureBeat reports that late Warner Bros. and Metro-Goldwyn-Mayer Studios also invested by purchasing shares from an earlier investor.