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

Playco Overview

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

JapanJapan

Website

play.co

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

Playco valuation by funding round
DateStageValuation
Sep 2020Series 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

Playco funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jan 2022Strategic investmentMeta (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 2021AngelKortschak Investments L.P.$3M--
Mar 2021AngelKortschak Investments L.P.$200K--
Sep 2020Series AJosh Buckley (lead); Sequoia Capital (lead)$100M$1BPlayco 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

Investors in Playco by funding rounds participated
InvestorHQRoundsRoleFirst check
Kortschak Investments L.P.United StatesAspen, CO2ParticipantMar 2021
Sequoia CapitalUnited StatesSan Francisco, CA1LeadSep 2020

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Acquisitions 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

Goodboy Digital
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 CountryUnited Kingdom
HQ City
London
Deal Date28 Sep 2021
Valuationundisclosed
EV/Revenue
EV/EBITDA

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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

Bombay Play
Bombay Play
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 CountryIndiaIndia
HQ City
Bangalore
Bangalore
Deal Date4 Apr 20227 Dec 2020
RoundSeries ASeed
Raised$7M$1M
InvestorsLeo Capital; Kalaari Capital; AdvantEdge Founders; WinZO; Lumikai; AMEA VenturesLeo Capital; Lumikai
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Playco Competitors

Playco competitors include listed companies like Playtika, GungHo Online, DoubleUGames and NHN Entertainment, and private ones like Kabam and Mythical Games.

Public and private companies comparable to Playco
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
KabamUnited StatesSan Francisco, CAPrivate--$1B-
Mythical GamesUnited StatesLos Angeles, CAPrivate--$1B-
PlaytikaIsraelIsraelPublicly listed$2.8B$180M$881M1.1x
GungHo OnlineJapanJapanPublicly listed$599M$37M$853M0.3x
DoubleUGamesSouth KoreaSouth KoreaPublicly listed$524M$170M$833M0.9x
NHN EntertainmentSouth KoreaSouth KoreaPublicly listed$1.8B$176M$1.3B0.6x

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 FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Xun You Network$43M$4M21.0x-214.7x-
MNC Digital Entertainment$216M$73M4.7x-14.0x-
Ubisoft$1.6B$302M0.8x0.8x4.4x4.5x
Playtika$2.8B$180M1.1x1.1x16.4x3.9x
GungHo Online$599M$37M0.3x0.3x5.5x4.0x
DoubleUGames$524M$170M0.9x0.9x2.9x2.4x
Yalla Group$342M$128M----
NHN Entertainment$1.8B$176M0.6x0.6x6.5x5.4x

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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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