“Next Games” is a Finnish Mobile Game Startup based in Finland, now planning to go public limited company by listing shares in Helsinki Stock exchange, the company announced on Monday.
Next Games was founded in 2013, and achieved massive recognition in mobile gaming in merely four years. Most popular games by the company are Walking Dead: No Man’s Land and Compass Point: West. The company is planning to list shares that will be publicly available in the Finnish stock exchange probably in the next coming year.
Next Games is mainly focused on entertainment themes. And its gist Game The Walking Dead: No Man’s Land – which is based on a popular TV show has been downloaded 5 million times in 2 years from its launch.
An article on Reuters has miscalculated various key indicators about the company, it says about the Game The Walking Dead: no man’s land has 16 million downloads. It also says that most couple of the most popular games on the play store Angry Birds and Clash Of Clans also owned by the Next Games which is absolutely wrong.
The company said, listing on the Nasdaq First North Finland, a marketplace for startups and growth companies, is expected to consist of $31.74 million share issue. CEO Teemu Huuhtanen said the company’s sales tripled to approx. $32.8 million in the last year, and business made remarkable profits in the second half of the previous year.
Next Games has raised about $18 million so far from the investors including film start-up investor Jari Ovaskainen, studio Lionsgate, U.S. venture fund IDG Ventures, , and AMC Networks.
What would be the next standing of Next Games if it goes Public, obviously the company will have unprecedented amount of cash flowing in after the listing. But the question is; would it be able to compete with the games like Angry Birds and Clash of Clans? Or it would remain with perpetuating struggle in the Mobile Games Market.
Image via: develop online