Mamboo Games

History

2022: VK reveals Mamboo Games purchase price

In September 2022, the VK holding disclosed the purchase price of the Belarusian developer of mobile games Mamboo Games. According to documents released by the company, the purchase of 51% of the startup cost 241 million rubles. This amount includes an initial cash payment of 168 million rubles, as well as 34 million rubles, which were credited to repay Mamboo Games' convertible debt to VK. In addition, VK has deferred payments to the owners of Mamboo Games in the amount of 39 million rubles.

Mamboo Games works in the genre of hyper-casual games. One of the studio's most successful projects is the racing game Shift Race, which gained 15 million installations in the first three months after release. Another successful project of the company is Billion Builders, which entered the top 50 on iOS in the United States and the top 10 in China.

VK reveals Mamboo Games purchase price

In the video game field, hypercasual games were common as early as the 1970s. On mobile devices, hypercasual games began to spread from the mid-2010s. The first major success in this genre was the game Flappy Bird, which generated an income of $50 million a day at its peak.

VK company My.Games launched a hypercasual direction in the spring of 2020, and as part of a partnership with it, the developer can count on 60% of the net profit from the project. My.Games, in turn, acts as the publisher of games in the genres Hyper-Casual, Hybrid-Casual and Idle. My.Games expects that a partnership with MamBoo Games will expand the hyper-casual program and offer more teams publishing services.

In addition to Mamboo Games, VK gained control of another Belarusian company - Swag Masha. She is known for the interactive story game Love Stick: Interactive Stories. Then, for 16% in Swag Masha, the holding paid 79 million RUB, increasing its stake in the company to 51%. The offices of Swag Masha are located in Minsk and in Russian Innopolis.^[1]

2021: Joining My.Games

International gaming brand My.Games on September 20, 2021 announced the accession of Mamboo Games, the publisher and developer of hypercasual and hybrid casual titles. As of September 2021, the Mamboo Games portfolio includes more than 30 projects.

The Mamboo Games office is located in Minsk, and the staff includes 35 employees. In 2020, Mamboo Games began their work with the publishing house of hyper-casual games, for 2021 they expanded their portfolio with the genre of hybrid casual games, which included Viking Life: Wild North; Scary Pranks: Horror Puzzle Survival; Space Rover: Space Taikon; Shift Princess: Fairies and Princesses. One of the publisher's most successful projects is Shift Race: a 3D racing game that reached 15 million installations in the first three months after release. Another successful project is Billion Builders, which entered the top 50 on the iOS platform in the United States and the top 10 in China.

In October 2020, we invested in Mamboo Games, and during this time the team achieved excellent performance, releasing a commercially successful release every month. MY.GAMES expertise in midcore games and Mamboo Games experience in hypercage form a symbiosis that allows you to release successful projects in the kejah hybrid genre. We perfectly understand how important flexibility and mobility are for the hyper-casual direction, therefore, for our part, we will contribute as much as possible to the scaling of the company's business and give access to all the advantages and resources of the open partner environment, - commented Vasily Maguryan, CEO of MY.GAMES.

We see how much hypercasual games are in demand among the audience - in 2020, the hypercasual games market grew by 104% and reached a volume of $3 billion, and we will continue to develop and expand work in this segment, offering other solutions. MY.GAMES has a huge expertise and diversified portfolio from thirteen studios, with some of which we have already launched several joint projects. We are confident that our partnership will realize our potential and give users global hits, - commented Ivan Leshkevich, CEO Mamboo Games.

Following the completion of the deal, MY.GAMES took majority ownership of Mamboo Games. As part of the deal, MY.GAMES pays more than $2m at closing, as well as a deferred payment that will be determined based on the performance of the business.

Notes

Шаблон:Remarks