Holy crap, Supercell is now valued at $770M, doing $2.4M a day
Forbes has just published an interview with Supercell founder Ilkka Paananen in which the quiet CEO revealed some astonishing revenue figures.
The maker of iPad-oriented social games "Clash of Clans" and "Hay Day" is now pulling in a whopping $2.4 million a day, with just 70 people on its team (last time we checked). That puts its run rate for 2013 at more than $800 million, with a $1 billion year now a distinct possibility. As Forbes' Karsten Strauss notes, that would put it at twice the size of EA's mobile division, which has more than 900 games in the iOS App Store. Supercell's two games are now played by 8.5 million people every day, who play the games 10 times per day on average.
Supercell also revealed details of its latest funding round. In February, it closed a round of $130 million in financing led by Index Ventures, which put in $52.5 million, with participation form Institutional Venture Partners and Atomico. The round put the company's value at $770 million. Paananen said the round, which wasn't entirely necessary, was a way to pay off shareholders and reduce the pressure to go public.
Supercell brought in $100 million last year and $179 million in the first quarter of this year alone. After it accounted for expenses and paid Apple its 30 percent cut, the two-year-old startup netted $104 million.
Supercell's figures suggest that it could be the new big dog in Finland's gaming world, supplanting the giant Rovio, makers of "Angry Birds." Rovio recently reported 2012 revenues of $195 million, with a net profit of $71 million. Supercell is on track to make those numbers look like peanuts in 2013.
In November, we reported on Supercell's success from Helsinki, noting the startup is Accel Partners' fastest-growing company ever – a serious achievement, considering Accel counts Facebook and Spotify, among other big hits, in its portfolio. At that point, Supercell was doing a measly $1 million a day in revenue.