20x Growth in Social Games

July 10, 2020

It’s no surprise that the online gaming industry is faring well in today’s climate. Two and a half billion gamers were already playing worldwide. Now, as people look for ways to pass the time and safely socialize at home, many more people are discovering the world of online games.

It is also not a surprise that the maker of the best game of 2019, Fortnite, is gaining momentum and attention in the tech industry. Earlier this week, Fortnite announced that Sony is investing $250m in Epic Games with plans to broaden existing collaborations across technology, social entertainment, and digital ecosystems.

What makes Epic Games special is the social aspect. As early as 2019, the live events and concerts on Fortnite and its other games were getting great feedback, with collaboration and the multiplayer format cited as Epic’s strengths.

Fast forward to pandemic 2020, and search interest in “online games to play with friends” jumped by 20x between February and March, indicating that people were looking for games they can play with real-world friends and family.

Gaming connects millions of people worldwide every day. Whether they’re sharing tips on YouTube or getting creative with gameplay, people are seeking virtual experiences that help them foster existing relationships and new ones.

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Social Gaming Companies:

Zynga made its name in 2009 by being one of the first developers to capitalize on Facebook as a gaming platform. Today, the company is hoping to do the same for messenger apps. Last year, the company launched “Words with Friends” on Facebook, one of the top titles to hit the new Messenger-based gaming platform.

Supercell has had spectacular success in the mobile game landscape since starting the Helsinki brand in 2010. The company has developed creative games such as Clash of Clans, Hay Day, Clash Royale, Boom Beach, and Brawl Stars, the most recent collection in its stable. Clash of Clans has more than 136M monthly users globally.

Riot Games is a player experience-focused gaming company headquartered in Los Angeles. With offices around the world, New York is home to their broadcasting team of producers, writers and editors, who keep Riot connected to the world of eSports.

Quibi hoped for 7.5M subscribers in year one. An analyst says the company is at 72,000.

Sensor Tower says that only 8% of the people who signed up for free trials have stuck around when it comes time to pay.
[Read more].

Slack snags corporate directory startup Rimeto to up its people search game.

Slack announced it was buying corporate directory startup Rimeto, which should help employees find people inside the organization who match a specific set of criteria from inside Slack. [Read more].

Since last week, PrivCo has added:
808 Profiles Updates | 113 M&A Deals | 144 Funding Activities

Funding & Deal Highlights:

Popshop Live gets $3M to bring live streaming to shopping.

Ahead, a platform that connects psychiatrists with patients, raises $9M.

Nomad Homes, which is creating a digital platform that uses technology to help people in Europe and the Middle East buy and finance homes more easily, receives a $4M seed round boost.

Animal-free dairy protein-maker Perfect Day has extended its Series C funding round to $300M, the company announced Wednesday.

Virtual care provider Doctor On Demand secures $75M in a Series D round of funding Wednesday, led by General Atlantic and undisclosed existing investors.

Truepill raises its largest investment to date, a $25M Series B that will enable the 4-year-old company to continue expanding its pharmacy fulfillment business.

VelosBio Inc., a San Diego, CA-based clinical-stage biopharmaceutical company committed to developing novel, first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1), completes a Series B financing of $137M.

LumiThera Inc., a commercial-stage private medical device company, creating a multi-wavelength photobiomodulation (PBM) treatment for ocular disorders and diseases, announces it has completed a Series C financing. The company raised approximately $14M to support further commercialization of its Valeda Light Delivery System for the treatment for dry Age-related Macular Degeneration (AMD), to complete its LIGHTSITE III U.S. clinical trial enrollment, and to pursue regulatory clearance of Valeda in the USA.

K4Connect, a startup focused on bringing new technologies like voice assistance, home automation, digital messaging and more to older adults and those living with disabilities, has closed on $21M in Series B funding. The B round had originally wrapped in October 2018, but was extended with the recent addition of $7.7M led by Forte Ventures.

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