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- Playco
Playco Valuation, Funding & Investors
Playco is valued at $1B as of September 2020.
Last Playco valuation
$1B
Series A · Sep 2020
Last Playco funding round
$40M
Strategic investment · Jan 2022
Cumulative funding Playco raised
$144M
across 4 funding rounds
Key investors in Playco
Kortschak Investments L.P.
Sequoia Capital
Meta
Josh Buckley
About Playco
Playco is a Tokyo-based instant-play gaming company founded in 2020 by Zynga co-founder Justin Waldron and Game Closure co-founder Michael Carter, building a web-based game engine for instant games that run without downloads via simple web links. Its games are distributed through platforms such as Google Play Instant, iOS App Clips, Facebook Instant Games, Snapchat Minis, and cloud streaming services, with partnerships spanning Facebook, LINE Messenger, Rakuten Viber, and Snapchat. Playco targets social and messaging apps to deliver multiplayer games accessible to billions of people without requiring app installs.
Founded
2020
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Product sales, Advertising
Valuation
$1B (Sep 2020)
Playco Valuation
Playco is currently valued at $1B, based on its Series A in September 2020.
The $100M round was led by Josh Buckley and Sequoia Capital.
Playco valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2020 | Series A | $1B |
Playco Funding History
Playco has raised a total of $144M across 4 funding rounds.
Playco's first fundraising round was a $100M Series A in September 2020. The most recent completed round was a $40M strategic investment round in January 2022.
Playco funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2022 | Strategic investment | Meta (lead) | $40M | - | Playco is a Tokyo-based mobile gaming company founded in 2020 by Zynga co-founder Justin Waldron, Game Closure co-founder Michael Carter, and others, specializing in instant social games for platforms like Zoom, TikTok, and social networks. The company aims to create multiplatform games accessible to over 1 billion people, leveraging HTML5 technology and partnerships with Facebook, Snapchat, and others. In September 2020, Playco raised $100 million in a Series A round at a post-money valuation of $1 billion, led by Sequoia Capital and Josh Buckley, using funds to build a team of 75, launch games like Ask Away and Heads Up! for Zoom, and acquire Goodboy Digital in 2021. This investment supports Playco's expansion across platforms amid Meta's interest in social gaming, reuniting Waldron with Facebook where Zynga's FarmVille gained fame. The round fits Playco's mission to bring people together through play, positioning it as a 'Zynga 2.0' in instant gaming. |
| Jun 2021 | Angel | Kortschak Investments L.P. | $3M | - | - |
| Mar 2021 | Angel | Kortschak Investments L.P. | $200K | - | - |
| Sep 2020 | Series A | Josh Buckley (lead); Sequoia Capital (lead) | $100M | $1B | Playco is a Tokyo-based instant play gaming company founded in 2020 by Zynga co-founder Justin Waldron, Game Closure co-founder Michael Carter, and game producers Takeshi Otsuka and Teddy Cross. It develops a web-based game engine for creating instant games playable via simple web links across platforms like Google Play Instant, iOS App Clips, Facebook Instant Games, Snapchat Minis, and cloud streaming services without downloads. The company targets social and messaging apps, securing partnerships with Facebook, LINE Messenger, Rakuten Viber, and Snapchat, with plans for WeChat, TikTok, Tinder, Zoom, and others. On September 21, 2020, Playco announced a $100 million Series A funding round co-led by Josh Buckley and Sequoia Capital Global Equities, with participation from Sozo Ventures, Caffeinated Capital, KSK Angel Fund, Mistletoe Singapore, Digital Garage, Will Smith’s Dreamers VC, Makers Fund, and others. The round achieved a post-money valuation just north of $1 billion, making Playco a unicorn at launch despite being a new company with successor ties to Game Closure. Initially planning $60 million, it expanded to include more investors. Funds were allocated to build partnerships with major social and messaging platforms globally and to rapidly assemble a world-class team of 75 gaming veterans. Playco planned to release its first games later in 2020, focusing on multi-player experiences accessible to billions. The company emphasizes distribution on platforms with massive audiences to enable easy multiplayer gaming without app installs, positioning itself as a next-generation social gaming leader akin to early Zynga successes. Subsequent developments included a $40 million investment from Meta in early 2022 and releases like Zoom-based games inspired by Heads Up! and Ask Away. |
Who has invested in Playco?
4 investors have backed Playco across its funding rounds, including Kortschak Investments L.P., Sequoia Capital, Meta and Josh Buckley.
Lead investors include Meta, Josh Buckley and Sequoia Capital.
Playco Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Participant | Mar 2021 | ||
| 1 | Lead | Sep 2020 | ||
This data is available for Pro users. Sign up to see all 4 Playco investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Playco
Playco has acquired 1 company to date.
Last acquisition by Playco was on September 28th 2021. Playco acquired Goodboy Digital for undisclosed valuation.
Latest Acquisitions by Playco
| Description | Goodboy Digital is a Brighton-based creative agency specializing in web design, digital illustration, content production, advertising campaigns, and marketing strategies. Established in 2010, it delivers projects for brands in publishing, entertainment, and consumer goods sectors. Services encompass custom animations, interactive websites, and social media visuals using tools like Adobe Suite and HTML5. |
| HQ Country | |
| HQ City | London |
| Deal Date | 28 Sep 2021 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Playco acquisitions and their M&A valuation multiples. Start Free Trial | |
Investments by Playco
Playco has invested in 1 company to date.
Latest investment by Playco was on April 4th 2022. Playco invested in Bombay Play in their $7M Series A round.
Latest Investments by Playco
| Description | Bombay Play is a Mumbai-headquartered mobile game studio that publishes casual multiplayer titles such as BlockJunkie, Ludo Supreme, and Card Party for iOS and Android platforms. The company launched in 2020 and has grown to serve millions of daily active users across India and Southeast Asia through hyper-casual and hybrid gaming experiences. Bombay Play partners with global publishers and leverages data analytics to optimize player retention and monetization in competitive markets. | Bombay Play is a Mumbai-headquartered mobile game studio that publishes casual multiplayer titles such as BlockJunkie, Ludo Supreme, and Card Party for iOS and Android platforms. The company launched in 2020 and has grown to serve millions of daily active users across India and Southeast Asia through hyper-casual and hybrid gaming experiences. Bombay Play partners with global publishers and leverages data analytics to optimize player retention and monetization in competitive markets. |
| HQ Country | ||
| HQ City | Bangalore | Bangalore |
| Deal Date | 4 Apr 2022 | 7 Dec 2020 |
| Round | Series A | Seed |
| Raised | $7M | $1M |
| Investors | Leo Capital; Kalaari Capital; AdvantEdge Founders; WinZO; Lumikai; AMEA Ventures | Leo Capital; Lumikai |
| Valuation | undisclosed | undisclosed |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Playco investments and their VC round multiples. Start Free Trial | ||
Playco Competitors
Playco competitors include listed companies like Playtika, GungHo Online, DoubleUGames and NHN Entertainment, and private ones like Kabam and Mythical Games.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | $2.8B | $180M | $881M | 1.1x | ||
| Publicly listed | $599M | $37M | $853M | 0.3x | ||
| Publicly listed | $524M | $170M | $833M | 0.9x | ||
| Publicly listed | $1.8B | $176M | $1.3B | 0.6x |
Playco Public Comps
Playco is still privately-owned, but its public comps include Xun You Network, MNC Digital Entertainment, Ubisoft, Playtika, GungHo Online, DoubleUGames, Yalla Group, NHN Entertainment, Kakao Games and Everplay Group.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $43M | $4M | 21.0x | - | 214.7x | - | |||
| $216M | $73M | 4.7x | - | 14.0x | - | |||
| $1.6B | $302M | 0.8x | 0.8x | 4.4x | 4.5x | |||
| $2.8B | $180M | 1.1x | 1.1x | 16.4x | 3.9x | |||
| $599M | $37M | 0.3x | 0.3x | 5.5x | 4.0x | |||
| $524M | $170M | 0.9x | 0.9x | 2.9x | 2.4x | |||
| $342M | $128M | - | - | - | - | |||
| $1.8B | $176M | 0.6x | 0.6x | 6.5x | 5.4x | |||
This data is available for Pro users. Sign up to see all Playco competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Playco
| When was Playco founded? | Playco was founded in 2020. |
| Where is Playco headquartered? | Playco is headquartered in Japan. |
| Is Playco publicly listed? | No, Playco is a private, VC-backed company. |
| What is Playco's valuation? | Playco was last valued at $1B in its Series A in September 2020. |
| How much funding has Playco raised? | Playco has raised $144M across 4 funding rounds. |
| What was Playco's last funding round? | Playco's last funding round was a $40M strategic investment round in January 2022, led by Meta. |
| Who are Playco's investors? | Playco's investors include Kortschak Investments L.P., Sequoia Capital, Josh Buckley and Meta. |
| Which companies are comparable to Playco? | Companies comparable to Playco include Kabam, Mythical Games, Playtika, GungHo Online, DoubleUGames and NHN Entertainment. |
| How many companies has Playco acquired? | Playco has acquired 1 company, including Goodboy Digital. |
| How many companies has Playco invested in? | Playco has invested in 1 company, including Bombay Play. |
| What was Playco's last investment? | In April 2022, Playco invested in Bombay Play's $7M Series A alongside Leo Capital, Kalaari Capital, AdvantEdge Founders and 3 other investors. |
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