Hitting $2.4 Million In Daily Revenues, Supercell Has Raised $130 Million With A $770 Million Valuation
Supercell is known for developing the popular mobile games Hay Day and Clash of Clans. Supercell has raised $130 million in February based on a valuation of $770 million, according to Forbes.com. Last month, Pulse2 reported on a rumor about the funding. The funding was from Institutional Venture Partners, Index Ventures, and Atomico Partners. Accel Partners and other shareholders sold 16.7% of their holdings in the company to new investors.
Supercell saw $100 million in gross revenues last year and $179 million in Q1 2013 itself. After Apple took their 30% cut, they hit $104 million in for the first quarter. Supercell was generating around $1 million in gross revenue per day from the two aforementioned iOS games at one point.
Based in Finland, Supercell is now hitting $2.4 million in revenues per day at a run-rate of over $800 million for 2013. Supercell is seeing around 8.5 million daily active users playing the two games at an average of 10 times per day.
Supercell did not need the latest round of funding, but decided to go with it as an opportunity to give shareholders a quick payout as a “thank you” and a way to alleviate pressures to go public soon said the CEO of the company, Ilkka Paananen, in the Forbes interview.
Supercell plans on expanding into Android development and expanding into Asia. The company will also release more hits and will probably go public eventually.