Venice-based Seriously Digital Entertainment Ltd. reported 64 percent revenue growth from January to September, with third-quarter revenue clocking in at $19.5 million. The private mobile-game developer, which was founded five years ago, is backed by Santa Monica venture capital firm Upfront Ventures and best-known for its mobile game “Best Fiends.”
Seriously noted in the report that it averaged $227,000 in revenue each day during September, for a total of $6.8 million. The company said it pulled in $3.6 million in revenue during the same period a year earlier. Seriously added that it passed $100 million in lifetime revenue in December 2017, and a spokeswoman for the company said it is profitable.
“When we first launched Best Fiends four years ago, our intention was to build an entertainment brand that could live for decades,” Andrew Stalbow, chief executive of Seriously, said in a statement.
The firm also said it’s looking to continue growth with the addition of an online shop selling products featuring “Best Fiends” game characters as well as game artwork. The shop launched Oct. 11. Seriously estimates “Best Fiends” has more than 2 million global active users per day and has been downloaded 85 million times since its launch in 2014.
“The launch of our first shop helps fulfill the vision we set out with to create the Best Fiends ecosystem and one we hope to replicate in future intellectual property and our latest success on the business growth of the company is evidence that we are on the right path,” Stalbow said.
Seriously also announced three new hires: Brian Ru, formerly of Raine Group, is its new director of operations and strategy; former Finland-based Next Games Technical Director Sylvain Cunzi joined as vice president of game technology; and Jamie Samson, previously legal counselor for Fox Networks Group Inc., joined Seriously as its legal counsel.
West Hollywood-headquartered social app developer Pink Technologies Inc. raised $1.4 million Oct. 3 followed by an additional $1 million Oct. 5, bringing the firm’s funding to $2.5 million since it launched in 2017.
The funds will go toward Pink’s new iOS social networking and event planning app, Revel-Social, used to connect influencers and entrepreneurs. Approved Revel users pay a monthly membership in order to list real-world events. Hosts are matched with guests by personal preference and also based on a Revel algorithm that “matches ideal members” who want to attend the event from a pool of verified and monitored users, vetted via a background check. Matched members must request an “introduction pass,” which costs $24, to meet other attendees before the event.
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