TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: GameStop surpasses earnings expectations; ASOdesk raises USD$1m (£833,000); and Tribe Gaming raises USD$1m (£833,000). GameStop surpasses earnings expectations Video games retailer GameStop has published its financial results for the fourth quarter and full financial year ending February 1st 2020. While net sales over the course of the year fell by 21.8% over the course of the year to USD$6.466bn (£5.389bn), the retailer reduced its debt by a measure [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Razer revenue reaches USD$821m (£694m); Fritz AI raises USD$5m (£4.2m); and estimated MTG esports revenue down 35%-45%. Razer revenue reaches USD$821m (£694m) Gaming technology firm Razer has announced its annual financial results for the year ended December 31st 2019, with revenue climbing by 15.2% year-on-year to reach a company record level of USD$820.8m (£693.6m). Excluding its mobile handset business, which it has now exited, Razer achieved adjusted EBITDA [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Valve softens rhetoric against Steam competition; Bohemia Interactive grosses USD$68m (£58m); and Amuka Esports acquires Incendium Gaming. Valve softens rhetoric against Steam competition Valve CEO and co-founder Gabe Newell has softened the company’s rhetoric against competition for its Steam storefront. Writing in Edge Magazine, Newell stated that competition is “awesome for everybody” and helps stores release new features and constantly finesse their respective relationships with developers. Newell’s comments [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent revenue up 21%; video game usage rises amid Covid-19; and users prefer non-intrusive gaming ads to display units. Tencent revenue up 21% Tencent Holdings Limited has posted its financial results for the fourth quarter and full-year 2019, with its annual revenue climbing by 21% from the previous year to CN¥337.29bn (£40.38bn), moreover operating profit increased by a similar measure (22%) to CN¥118.69bn (£14.21bn). Income from its gaming [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Genvid raises USD$6m (£4.9m); Miniclip acquires Eight Pixels Square; and Gfinity lowers revenue expectations. Genvid raises USD$6m (£4.9m) Interactive streaming technology provider Genvid Technologies has announced it has raised an additional USD$6m (£4.9m) in funding, taking its Series B round to USD$33m (£27m), and total investment to USD$53m (£44m) to date since its formation in 2016. The latest tranche comes courtesy of NTT Domoco Ventures, Samsung Ventures, and [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Epic Games acquires Cubic Motion; USD$4.1bn (£3.2bn) invested in XR in 2019; Super League Gaming posts net loss of USD$30.6m (£24.1m); and GameStop shareholders demand board representation. Epic Games acquires Cubic Motion Epic Games has acquired Manchester-based facial animation technology firm Cubic Motion for an undisclosed sum. The acquisition is not thought to result in any job losses, while current contracts held by the acquired firm will be [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Kleiner Perkins closes USD$700m (£542m) fund; Veritas raises USD$10m (£7.7m); and Improbable operating losses hit £63.7m. Kleiner Perkins closes USD$700m (£542m) fund Silicon Valley venture capital firm Kleiner Perkins has closed its largest fund to-date, KP 19, which is worth USD$700m (£542m). The fund will largely mirror that of its predecessor KP 18, in that it will support seed- and Series A-stage startups operating in the consumer, enterprise, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Gismart sixth-fastest growing company in Europe; GameOn Technology raises USD$10.5m (£8.20m); Zynga facing class-action lawsuit; and Sensel raises USD$28m (£22m). Gismart named sixth-fastest growing company in Europe London-based mobile developer-publisher Gismart has been named the fastest growing gaming business, and the sixth-fastest overall, in Europe in the FT 1000 list compiled by the Financial Times. According to the figures, Gismart grew its revenue in absolute terms by 8,788.3% [...]

[LAST UPDATE: 28th February, 2020] The time of year has come when myriad gaming companies and other tech outfits are releasing their new financial reports, with the conventional Q4 financial quarter drawing to a close on the final day of 2019. The likes of Sony, Microsoft, Nintendo, Zynga, DeNA, EA, Capcom and many others are now releasing numerous and detailed insights into their relative successes and failures both over the past quarter – and in some cases for 2019 in its entirety. As [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: iDreamSky in Leyou takeover talks with CVC; Facebook sues oneAudience; and NetEase releases 2019 financial results. iDreamSky in Leyou takeover talks with CVC Mobile developer iDreamSky Technology Holdings Ltd. is in advanced talks with private equity firm CVC Capital Partners to partner on an estimated USD$1.4bn (£1.1bn) acquisition deal for Hong Kong-based video game holding company Leyou Technologies Holdings Ltd., according to sources speaking to Bloomberg. As previously [...]