Kabam Named by CNBC to Top 50 Disruptor List
Kabam Named by CNBC to Top 50 Disruptor List
Mobile Games Leader is the Only Games Company Recognized
SAN FRANCISCO--(BUSINESS WIRE)-- Kabam, the leader in the western world for free-to-play core games, has been named by CNBC as the only games company on its inaugural Disruptor 50 list. CNBC calls Kabam a "direct threat to traditional console makers and game publishers." Kabam and the other private companies named by CNBC are poised for "hypergrowth" as they have the greatest potential to disrupt the public giants.
"Gamers are increasingly abandoning traditional packaged games in favor of mobile games that they can access for free, anytime and anywhere," said Kabam CEO Kevin Chou. "Kabam is focused on providing highly engaging, console quality games through the free-to-play business model. We are honored to be recognized by CNBC alongside other innovative, rapid-growth companies that are disrupting their respective industries."
Since releasing its first game in September 2009, Kabam has quickly evolved from developing free-to-play core games for Facebook to bringing both first and third party games to social, web, and mobile platforms. In 2012, the company grew revenues by 70 percent to more than $180 million and expects to grow at more than 50 percent each year for the next several years. The average Kabam player is deeply engaged, spending two to three hours a day playing Kabam games. These games are localized for 16 languages and available in more than 200 countries. The decline of console games giving way to the rise in free-to-play mobile games is a disruption Kabam CEO Kevin Chou has been predicting since before the most recent generation of consoles began rolling out.
"Kevin Chou and his team have a clear plan for how Kabam's business model and products are a perfect fit for the rapidly changing gaming market," said Joe Kraus, general partner at Google Ventures and a Kabam investor and board member. "Investing in the company two years ago was an easy decision, and we continue to anticipate hyper growth for Kabam in the coming years."
Kabam games include the international hits Kingdoms of Camelot: Battle for the North, the seventh largest strategy game of all time, which has grossed more than $200 million in less than four years and was the top grossing iOS app in 2012; The Hobbit: Kingdoms of Middle-earth, which is a top ten grossing game on iOS worldwide and a top 15 grossing game on Google Play worldwide; and Fast & Furious 6: The Game, Kabam's first racing title, which reached the number one spot in more than 100 countries within one week of release, according to the App Annie Index.
CNBC, the leading business news network, determined the Disruptor 50 list by initially having top VC firms, industry analysts, CNBC beat reporters, and startup investors nominate hundreds of private, VC-backed companies. CNBC editors whittled the list to the final 50.
Kabam is the leader in the western world leader for free-to-play core games with 1st and 3rd party published titles available on mobile devices via the Apple Store, Google Play, and on the Web via Facebook, Yahoo, Kabam.com, and other platforms. In 2012 Kabam revenues grew by 70 percent to more than $180 million. The company is profitable and has seven titles that gross more than $1 million per month, including four grossing more than $3 million and two grossing more than $7 million per month. Kabam's Kingdoms of Camelot franchise has grossed more than $200 million in less than four years, making it one of the top 10 strategy franchises of all time. In 2012, Kabam Publishing was launched and in April 2013 Kabam announced the $50 million WWDevFund to provide third-party developers access to Kabam's technology platform, marketing channels, and best practices that Kabam's in-house development teams use to bring wildly successful games to players worldwide. Kabam has 600 employees across three continents, with corporate headquarters in San Francisco. The company's investors include Google, Warner Brothers, MGM, SK Telecom, Intel, Canaan Partners, Redpoint Ventures and Pinnacle Ventures. More information about Kabam can be found at www.kabam.com.
Steve Swasey, 415-391-0817
VP Corporate Communications
KEYWORDS: United States North America California
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