TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Unity raises over USD$1.3bn (£1.0bn) in IPO; Supercell fined USD$8.5m (£6.6m) over patent violations; and Hypemasters receives funding from MGVC. Unity raises USD$1.3bn (£1.0bn) in IPO Unity Technologies has raised over USD$1.3bn (£1.0bn) in gross proceeds from its initial public offering (IPO) on the New York Stock Exchange, which took place on Friday, after offering the tranche of 25 million common stock at USD$52 (£40.2m) per share, above [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Tencent gaming draws US scrutiny; Stillfront acquires Nanobit; and Bunch raises USD$20m (£15.4m). Tencent gaming draws US scrutiny The Committee on Foreign Investment in the United States (CFIUS) has sent formal enquiries to US-based video game companies in which Tencent Holdings Ltd. holds a minority or majority stake, including Epic Games and Riot Games, over their data security practices. Tencent has over 300 investments across its portfolio, including [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: PlayStation 5 launch details revealed; Bayes raises USD$6m (£4.6m); and Keywords Studios acquires Heavy Iron Studios. PlayStation 5 launch details revealed Sony has announced that the PlayStation 5 console will launch in select markets, namely the US; Japan; Canada; Mexico; Australia; New Zealand; and South Korea, on 12th November 2020, prior to its global release a week later on 19th November. The standard PS5 will be sold with [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Unity seeks over USD$1bn (£774m) from IPO; Razer customer details reportedly exposed; and Juked.gg opens crowdfunding campaign. Unity seeks over USD$1bn (£774m) from IPO Unity Technologies has set its price range for its upcoming initial public offering (IPO) on the New York Stock Exchange at between USD$34 (£26) and USD$42 (£32) per share, which would net the game engine technology firm USD$1.05bn at the upper boundary and a [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Paradox Interactive staff allege poor treatment; Gameye raises USD$2.4m (£1.8m); and Apple countersues Epic Games. Paradox Interactive staff allege poor treatment Multiple employees from Paradox Interactive have accused the Swedish developer-publisher of mismanagement and poor treatment, primarily over the closure of its Sweden publishing quality assurance (QA) department. According to the anonymous members of QA staff in a report published by Rock Paper Shotgun, Paradox executives failed to [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Challengermode raises USD$12m (£9.1m); Frogwares in legal dispute with Nacon; and Colossi Games secures USD$650,000 (£495,360). Challengermode raises USD$12m (£9.1m) Esports tournament creation and listings platform Challengermode has raised USD$12m in a funding round led by Alibaba Group’s eWTP Innovation Fund, with support from GP Bullhound, Back in Black Capital, and Telia Ventures. The investment will be used by the Stockholm-based firm to expand into North America, develop [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Unity files for IPO; US court partially upholds Epic injunction against Apple; and Nintendo rumoured to launch new Switch console in 2021. Unity files for IPO Video game technology firm Unity has filed its S-1 statement ahead of its proposed initial public offering (IPO) on the New York Stock Exchange, under the stock ticker “U”. Funds raised from the IPO will purportedly be used for general corporate purposes, [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: March Capital launches USD$60m (£46m) gaming fund; Hiber raises USD$2.25m (£1.71m); and Lootcakes secures USD$2m (£1.5m). March Capital launches USD$60m (£46m) gaming fund March Capital Partners has announced the launch of a USD$60m (£46m) fund dedicated exclusively to video game companies. Operating out of Santa Monica, California, the new vehicle will provide cheques of between USD$500,000 (£380,430) and USD$3m (£2.3m) to approximately 12-15 gaming firms at seed or [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Apple further retaliates against Epic Games; Tencent acquires minority stake in Voodoo; and Hour One raises USD$5m (£3.8m). Apple further retaliates against Epic Games Apple has threatened to remove Epic Games‘ access to its iOS and Mac development tools by Friday 28th August unless it removes its direct payment system within the Fortnite title, which bypasses its App Store platform. The dispute has already seen the popular game [...]

TheGamingEconomy’s Daily Digest brings you the prevalent business stories in gaming. In today’s news: Wildlife Studios raises USD$120m (£91.7m); dMY Technology Group II SPAC in USD$240m (£183m) IPO; and PUBG Corporation invests USD$10m (£7.6m) in 1Up Ventures. Wildlife Studios raises USD$120m (£91.7m) Brazilian mobile game developer-publisher Wildlife Studios has announced that it has raised USD$120m (£91.7m) in Series B funding led by Vulcan Capital, with a supporting contribution from Human Capital. The round values the Sao Paulo-based firm at USD$3bn (£2.3bn), and [...]