Pocket Gems Revenue, Valuation, Funding & Investors
Pocket Gems is valued at $600M as of May 2017, a 3.0x multiple on its last reported $200M revenue.
Last Pocket Gems valuation
$600M
Series B · May 2017
Last Pocket Gems funding round
$90M
Series B · May 2017
Pocket Gems revenue
$200M
Series B · May 2017
Key investors in Pocket Gems
Tencent
Sequoia Capital
About Pocket Gems
Pocket Gems is a San Francisco-headquartered mobile game studio founded in 2009. The company develops interactive entertainment titles including Episode, a storytelling app with episodic narratives, and War Dragons, a 3D real-time strategy game. Backed by Sequoia Capital and Tencent, Pocket Gems powers titles with its Mantis Engine for cross-platform delivery.
Founded
2009
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales, Advertising
Revenue
$200M (May 2017)
Valuation
$600M (May 2017)
Pocket Gems Valuation
Pocket Gems is currently valued at $600M, based on its Series B in May 2017.
The $90M round was led by Tencent.
Pocket Gems' valuation has grown 2.0x from $300M at its Series B in May 2015 to $600M in May 2017, across 2 priced rounds.
Pocket Gems valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| May 2017 | Series B | $600M | 3.0x |
| May 2015 | Series B | $300M | - |
Pocket Gems Revenue
Pocket Gems' latest recorded revenue is $200M, as of its Series B in May 2017. At a $600M valuation, that implies a 3.0x revenue multiple.
Pocket Gems revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| May 2017 | $200M | $600M | 3.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Pocket Gems Funding History
Pocket Gems has raised a total of $150M across 2 funding rounds.
Pocket Gems' first fundraising round was a $60M Series B in May 2015. The most recent completed round was a $90M Series B in May 2017.
Pocket Gems funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2017 | Series B | Tencent (lead) | $90M | $600M | Pocket Gems is a US-based mobile game developer founded in 2009, best known for titles like Episode, a celebrity-themed choose-your-own-adventure game popular with women, and War Dragons, a 3D multiplayer action strategy game aimed at male gamers. The company has achieved over 300 million downloads across Android and iOS platforms. In May 2017, Tencent invested $90 million, valuing Pocket Gems at $500 million post-money and increasing Tencent's ownership to 38% from a prior 2015 investment of $60 million at $300 million valuation. This funding round follows Tencent's earlier Series B participation and brings total backing alongside investors like Sequoia Capital, which led a $5 million Series A in 2010. The capital is earmarked for expanding communities around Episode and War Dragons, plus launching a new studio focused on 3D multiplayer mobile games later that year. Tencent's involvement provides strategic support, including potential access to the Chinese market, where it dominates app store revenues. Traction metrics around the round include Sensor Tower's estimate of $17.5 million revenue in April 2017, projecting over $200 million annually if sustained; Pocket Gems confirmed 2016 as a record year for sales and gamers without disclosing specifics. CEO Ben Liu highlighted the company's unique ability to succeed with products for diverse audiences. One source reported a conflicting $600 million valuation, but WSJ-cited figure of $500 million aligns with Tencent's 38% stake math. |
| May 2015 | Series B | Tencent (lead); Sequoia Capital | $60M | $300M | Pocket Gems is a San Francisco-based mobile game developer founded in 2009, known for titles like Episode and War Dragons. In May 2015, Tencent invested $60 million to acquire approximately 20% of the company, with Sequoia Capital as an existing investor. The 2015 deal established a key partnership with Tencent, which later doubled down in May 2017 with a $90 million investment, increasing its stake to 38% and implying a higher valuation around $600 million post that round per TechCrunch and Wall Street Journal reports. Pocket Gems continued operating independently as a minority-owned entity. Pocket Gems used subsequent funds to scale operations, expanding from 220 staff and hiring aggressively while launching new studios and titles targeting hardcore gamers. Tencent's support, alongside Sequoia, enabled long-term risky bets in interactive entertainment. The company tapped markets like Japan and eyed China, competing in a landscape where Tencent also backed firms like Riot Games, Supercell, and Glu Mobile. Total funding reached $155 million across four rounds by 2017. |
Who has invested in Pocket Gems?
2 investors have backed Pocket Gems across its funding rounds, including Tencent and Sequoia Capital.
Lead investors include Tencent.
Pocket Gems Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialPocket Gems Competitors
Pocket Gems competitors include listed companies like NetDragon Websoft and Guangxi Xinxunda, and private ones like Theorycraft Games, Kabam, Caffeine and Skybound Entertainment.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Los Angeles, CA | Private | - | - | $390M | - | |
| San Francisco, CA | Private | - | - | $1B | - | |
| San Francisco, CA | Private | - | - | $600M | - | |
| Los Angeles, CA | Private | $64M | - | $651M | - | |
 China | Publicly listed | $667M | $106M | $543M | 1.0x | |
| China | Publicly listed | $19M | ($17M) | $711M | - |
Pocket Gems Public Comps
Pocket Gems is still privately-owned, but its public comps include TV Tokyo Holdings, Tanwan, YG Entertainment, Hubei Century Network, DoubleDown Interactive, CJ ENM, Acast, NRJ Group, VNG Corp. and NetDragon Websoft.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.1B | $104M | 0.3x | 0.3x | 3.2x | 3.4x | |||
| $620M | $294M | 0.5x | - | 1.1x | - | |||
| $397M | $73M | 1.3x | 1.2x | 7.1x | 7.4x | |||
| $179M | $6M | 2.4x | 2.1x | 68.9x | - | |||
| $360M | $133M | 0.3x | 0.3x | 0.9x | 0.8x | |||
| $3.7B | $1.1B | 0.6x | 0.7x | 2.2x | 2.6x | |||
| $257M | ($1M) | 2.3x | 1.9x | (481.8x) | 25.7x | |||
| $390M | $74M | 0.3x | 0.3x | 1.6x | 1.7x | |||
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Common questions about Pocket Gems
| When was Pocket Gems founded? | Pocket Gems was founded in 2009. |
| Where is Pocket Gems headquartered? | Pocket Gems is headquartered in San Francisco, CA, United States. |
| Is Pocket Gems publicly listed? | No, Pocket Gems is a private, VC-backed company. |
| What is Pocket Gems' valuation? | Pocket Gems was last valued at $600M in its Series B in May 2017. |
| How much funding has Pocket Gems raised? | Pocket Gems has raised $150M across 2 funding rounds. |
| What was Pocket Gems' last funding round? | Pocket Gems' last funding round was a $90M Series B in May 2017, led by Tencent. |
| Who are Pocket Gems' investors? | Pocket Gems' investors include Tencent and Sequoia Capital. |
| What is Pocket Gems' revenue? | Pocket Gems' latest recorded revenue is $200M (May 2017). |
| What is Pocket Gems' revenue multiple? | Pocket Gems' latest valuation implies a 3.0x revenue multiple ($600M valuation on $200M of revenue). |
| Which companies are comparable to Pocket Gems? | Companies comparable to Pocket Gems include Theorycraft Games, Kabam, Caffeine, Skybound Entertainment, NetDragon Websoft and Guangxi Xinxunda. |
See companies similar to Pocket Gems
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