Kabam Hits $180 Million In 2012 Revenues
Kabam is a San Francisco based gaming company that is privately held. The company announced gross revenues of $180 million for 2012. Kabam started off as a Facebook game development company, but they aggressively gained marketshare in the mobile gaming marketing within the past year.
The company builds mid-core social games and some of their hits include The Hobbit: Kingdoms of Middle-Earth and Kingdoms of Camelot. Kabam’s gross revenues increased 70% year-over-year and they are hitting a $200 million run rate.
Kabam’s numbers are based on bookings and do not take into account the 30% that the company has to pay Facebook and Apple for items purchased within the games. One of Kabam’s biggest rivals is Zynga. Zynga hit a record booking of $1.1 billion in 2012 and Zynga takes the 30% that they pay Facebook, Apple, and others for revenue-sharing.
“Kabam blew past its plan in 2012,” stated Kabam co-founder and CEO Kevin Chou. “At this time last year we forecast 2012 revenue to grow by 30 to 40 percent. Because of our team’s focus on strategic growth across diverse game genres and platforms, including mobile and the Web, we exceeded our own expectations.”