Match-3 crew at Turkey’s Dream Video games raises $155M at $1B valuation
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Turkey has one other unicorn on its arms. Dream Video games has raised $155 million at a valuation of $1 billion because of its deal with match-3 informal cellular video games.
Istanbul-based Dream Video games, a Turkey-based cellular video games firm, has closed a second insitutional spherical co-led by Index Ventures and Makers Fund. Different buyers included Balderton Capital, IVP, and Kora. The sport has greater than six million month-to-month lively customers. That’s rather a lot, however the confidence that buyers have in Dream Video games remains to be fairly astounding, even in gaming’s present funding growth.
The funding is the most important Collection B financing in Turkey and the newest cellular gaming unicorn. A unicorn is a startup with a valuation of $1 billion or extra. In March, Dream Video games raised $50 million, and in 2018, the corporate raised $7.5 million.
The spherical comes on the heels of the huge success of Dream’s debut recreation Royal Match, which reached the top-20 grossing video games within the U.S., United Kingdom, and Germany in solely three months.
The following gaming hub?
It’s additionally one other enormous success for Turkey in cellular video games. That began in 2017, when Peak Video games bought its card and board video games studio to cellular gaming large Zynga for $100 million. Zynga later opened paid $250 million for Gram Video games, the Turkish builders behind vastly fashionable puzzle titles. Then it acquired all of Peak Video games for $1.8 billion in June 2020 after which Zynga paid $168 million for hypercasual recreation maker Rollic Video games. I assume it’s a matter of time earlier than Zynga buys Dream Video games — if it might probably afford it.
As for Turkey, Soner Aydemir, CEO of Dream Video games, stated in an interview with GamesBeat stated that Turkish entrepreneurs have been impressed by the success of the cellular recreation corporations, and it’s giving younger individuals a number of motivation to start out their very own profitable enterprises.
“Folks need to do impactful and international issues,” he stated. “Nonetheless, it’s going to take time to make Istanbul into the subsequent gaming hub.”
The corporate has 50 staff and it’s planning to develop to 75 by the top of the yr. Dream Video games’ personal crew acquired began within the style of match-3 video games again in 2014 and the assorted crew members labored exhausting and have become consultants of their style, Aydemir stated.
Royal Match grew to become an instantaneous day by day passion for its gamers, Aydemir stated. Mixing the favored artwork types, pleasant development system with accessible match 3 play, the sport appeals to a world viewers that likes to play video games day by day on their telephones, as a part of their life-style, he stated.
Aydemir stated that the corporate is specializing in nice video games that attraction to all gamers around the globe. He stated he’s very enthusiastic about buyers’ confidence in Dream Video games.
“Once we launched the primary model of Royal Match in March, we noticed the potential of the sport,” Aydemir stated. “However after we launched the sport within the U.S., Japan, Germany, and the UK, we didn’t count on that a lot success. However we noticed enormous retention and monetization metrics. Folks love the sport. After we noticed the expansion of the sport, we instantly determined to do one other spherical so we don’t lose the momentum.”
Michael Cheung, the final associate at Makers Fund, stated in a press release that the startup has deep style perception, a laser deal with element, and nice crew chemistry.
Stephane Kurgan, a enterprise associate at Index Ventures and former chief working officer of King, stated in an interview with GamesBeat that the expansion reminded him of King’s rise with Sweet Crush Saga.
Even when match-3 titles appear saturated, there’s all the time new room for a brand new one, Kurgan stated.
“It’s been a number of years since King, and it’s all the time incremental innovation that may be essentially the most transformational,” Kurgan stated. “Sweet Crush was not the primary match-3 recreation, but it surely was the primary to mix the completely different boosters and create the tremendous booster. As buyers, we have a look at the long-term retention and that’s the place that is really distinctive. And it truly has high quality.”
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