One of the biggest gaming ventures in Japan wants a larger stake in the Clash of Clans money-making machine.
SoftBank increased its stake in Clash of Clans developer Supercell by 22.7 percent, bringing its total share in the company to 73.2 percent. SoftBank originally acquired a 51 percent stake in the company in October 2013 for $1.5 billion. If Supercell was worth the same now as it was then, the new 22.7 percent would be worth about $660 million. However, SuperCell is worth more than it was in 2013 thanks to hits like Clash of Clans and Boom Beach.
The free-to-play Clash of Clans is consistently one of the most popular mobile games. It is currently the top-grossing app in the iOS store, according to AppAnnie. Another Supercell game, Boom Beach, is No. 4 on that list. Supercell is one of the big players in a mobile industry that could reach $30 billion and exceed the console industry’s revenues this year, according to market researcher Newzoo.
Concurrently, venture capital firm Accel has sold its share in the company as part of the deal.
“We believed that well-capitalizing Supercell at an early stage would empower it to control its own destiny and take risks,” Accel stated on its blog. “Accel became the first and sole institutional venture investor, financing the company in May 2011 with an $11M Series A.”