Latest News: Technology |  Celebrity |  Movies |  Apple |  Cars |  Business |  Sports |  TV Shows |  Geek

Trending

Filed under: News | Misc

 

Kabam Now Valued at $700 Million After Employees Sale Common Stock

The San Francisco-based online video game maker Kabam has been valued at a whopping $700 million. The online game company has really got a lot of money to its credit allowing its employees to sell common stock.

Jul 15 2013, 7:14am CDT | by

1 Updates
Kabam Now Valued at $700 Million After Employees Sale Common Stock
 
 

YouTube Videos Comments

Full Story

Kabam Now Valued at $700 Million After Employees Sale Common Stock

Kabam Now Valued at $700 Million After Employees Sale Common Stock

Kabam, after a sale of $38.5 million in former workers’ common stock, ended up worth a hefty $700 million. However, according to the Wall Street Journal , the company is not keeping any of the money. Kevin Chou, the CEO of Kabam spoke of how the 700 employees ought to benefit from the productive spike the company had seen recently. One of the fastest growing US online gaming companies, Kabam has the sweet smell of success all around it. Revenues that amounted to $180 million were raked in. These were 70% more than those made in 2012. Part of the reason for this phenomenon was Kingdoms of Camelot. This social game proved quite popular among the “in” crowd on Facebook.

An initial public offering (IPO) is in the works too, although the exact date has remained unannounced. Next year seems a likely target. Kabam’s skyrocketing figures are quite a contrast to the failure of Zynga. Zynga has been in hot water since 2011. Its buying out of competitor company OMGPOP and lukewarm interest shown by gamers in its products have led to low morale. The problem is that Zynga has been lagging behind others in shifting its services to mobile devices. A reduction in dependence on social network sites would be ideal. And it is here that Zynga has made a big mistake. Meanwhile, Kabam has long since transferred its business. Now only 30% of its profits come from Facebook clients. Therefore, Kabam is a company from which Zynga may learn a thing or two. 

 

iPad Air Giveaway. Win a free iPad Air.

You Might Also Like

Updates


Sponsored Update


Advertisement


More From the Web

Shopping Deals

 
 
 

<a href="/latest_stories/all/all/20" rel="author">Sumayah Aamir</a>
Sumayah Aamir (Google+) has deep experience in analyzing the latest trends.

 

 

Comments

blog comments powered by Disqus

Latest stories

Detroit Lions Put Off Contract Talks with Ndamukong Suh
Detroit Lions Put Off Contract Talks with Ndamukong Suh
The Detroit Lions decided to put off contract talks with controversial defensive tackle Ndamukong Suh until after the 2014 NFL season.
 
 
Shania Twain Will End Vegas Show in December
Shania Twain Will End Vegas Show in December
The Country Singer Set Record Crowds For Shows During Her Two Year Stay
 
 
Jennette McCurdy Confirms &#039;Sam and Cat&#039; Cancellation Rumors
Jennette McCurdy Confirms 'Sam and Cat' Cancellation Rumors
McCurdy Also Posts a Message To Fans Saying She Is Not A Role Model
 
 
Lenovo IdeaPad Flex 15 Touchscreen Ultrabook is Great for Back to School
Lenovo IdeaPad Flex 15 Touchscreen Ultrabook is Great for Back to School
Lenovo IdeaPad is available at Amazon for $649.99. For back to school the new Lenovo Flex 15 is a great notebook. Be sure to buy yours today. Introducing the Lenovo Flex 15 - it's more than just a typical notebook....
 
 
 

About the Geek Mind


Read more about The Geek Mind.