Second Dinner Studios Revenue, Valuation, Funding & Investors
Second Dinner Studios is valued at $400M as of January 2024, a 2.0x multiple on its last reported $200M revenue.
Last Second Dinner Studios valuation
$400M
Series B · Jan 2024
Last Second Dinner Studios funding round
$100M
Series B · Jan 2024
Second Dinner Studios revenue
$200M
Series B · Jan 2024
Key investors in Second Dinner Studios
Griffin Gaming Partners
NetEase
About Second Dinner Studios
Second Dinner Studios is an Irvine-based independent game studio founded in 2021 by veterans from Blizzard Entertainment and Riot Games. The studio develops multiplayer titles including Marvel Snap, a collectible card battler launched in 2022 that amassed over 100 million downloads. Second Dinner Studios partners with Nuverse for publishing and focuses on live-service games blending competitive play with accessible mechanics. Irvine-headquartered, the team of 80 engineers and artists operates from a campus featuring collaborative workspaces.
Founded
2018
HQ
Los Angeles, CAWebsite
Status
Privately held
Customer focus
B2C
Revenue model
Product sales
Revenue
$200M (Jan 2024)
Valuation
$400M (Jan 2024)
Sectors
Second Dinner Studios Valuation
Second Dinner Studios is currently valued at $400M, based on its Series B in January 2024.
The $100M round was led by Griffin Gaming Partners.
Second Dinner Studios valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2024 | Series B | $400M | 2.0x |
Second Dinner Studios Revenue
Second Dinner Studios' latest recorded revenue is $200M, as of its Series B in January 2024. At a $400M valuation, that implies a 2.0x revenue multiple.
Second Dinner Studios revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2024 | $200M | $400M | 2.0x | 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.
Second Dinner Studios Funding History
Second Dinner Studios has raised a total of $130M across 2 funding rounds.
Second Dinner Studios' first fundraising round was a $30M strategic investment round in January 2019. The most recent completed round was a $100M Series B in January 2024.
Second Dinner Studios funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2024 | Series B | Griffin Gaming Partners (lead) | $100M | $400M | Second Dinner Studios is an independent game development studio founded in 2018 and headquartered in Irvine, California. The studio is best known for MARVEL SNAP, a collectible card game for mobile and PC platforms that launched in October 2022. In January 2024, Second Dinner secured a $100 million Series B funding round led by Griffin Gaming Partners, with existing investor NetEase continuing as a minority stakeholder. The round valued the company at $500 million post-money valuation. MARVEL SNAP has achieved significant commercial success, accumulating over 22 million downloads and generating more than $200 million in cumulative revenue since its launch. The game has earned numerous accolades including Mobile Game of the Year from The Game Awards and DICE Awards, Best Strategy Game from IGN, and the Apple Design Award for Innovation. Second Dinner's leadership team includes co-founder and CEO Hamilton Chu, Chief Development Officer Ben Brode (formerly of Blizzard Entertainment known for Hearthstone), and Chief Operating Officer Matt Wyble. The funding will support development of new titles, incubation of original intellectual property, continued global expansion of MARVEL SNAP, and team expansion. Griffin Gaming Partners, one of the world's largest venture capital firms focused on gaming with over $1 billion in assets under management, led the investment while affirming Second Dinner's independence and creative autonomy. |
| Jan 2019 | Strategic investment | NetEase (lead) | $30M | - | Second Dinner Studios was founded in 2018 by former Blizzard Entertainment executives, including Ben Brode (former Hearthstone game director) and Hamilton Chu (CEO), along with Mike Schweitzer, Yong Woo, and Jomaro Kindred. The studio announced a $30 million minority investment from Chinese technology company NetEase in January 2019, approximately eight months after its founding. This funding was specifically intended to support the development of Second Dinner's first game and expand the team's hiring efforts. The studio was based in Irvine, California at the time of the investment. Second Dinner's debut title was a Marvel-licensed game, with the team having already spent six months in development and begun playtesting by the announcement date. The funding was described by CEO Hamilton Chu as sufficient to reach the end of the first project without additional fundraising interruptions. The company later achieved success with Marvel Snap and raised a $100 million Series B led by Griffin Gaming Partners in January 2024. |
Who has invested in Second Dinner Studios?
2 investors have backed Second Dinner Studios across its funding rounds, including Griffin Gaming Partners and NetEase.
Lead investors include Griffin Gaming Partners and NetEase.
Second Dinner Studios 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 TrialSecond Dinner Studios Competitors
Second Dinner Studios competitors include listed companies like ZQGame, PlayWay, Wemade and Coffee Stain Group, and private ones like Theorycraft Games and 4Divinity.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 China | Publicly listed | $27M | $1M | $397M | - | |
 Poland | Publicly listed | $79M | $33M | $405M | 4.1x | |
| Los Angeles, CA | Private | - | - | $390M | - | |
 South Korea | Publicly listed | $447M | $38M | $377M | 1.2x | |
 Sweden | Publicly listed | $98M | $46M | $449M | 3.6x | |
| Poland | Private | - | - | $350M | - |
Second Dinner Studios Public Comps
Second Dinner Studios is still privately-owned, but its public comps include ZQGame, PlayWay, Wemade, Coffee Stain Group, Sohu, Soft-World, GuangZhou Wahlap Tech, 7ROAD, Hangzhou Electronic Soul and Remedy Entertainment.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $27M | $1M | 14.8x | - | 325.6x | - | |||
| $79M | $33M | 4.5x | 4.1x | 10.7x | 5.8x | |||
| $447M | $38M | 1.1x | 1.2x | 13.0x | 23.6x | |||
| $98M | $46M | 3.9x | 3.6x | 8.3x | 6.6x | |||
| $584M | ($54M) | - | - | - | - | |||
| $205M | $46M | 0.4x | - | 1.7x | - | |||
| $149M | $26M | 2.4x | 2.7x | 13.3x | 21.5x | |||
| $78M | $13M | 3.6x | - | 21.1x | - | |||
This data is available for Pro users. Sign up to see all Second Dinner Studios competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Second Dinner Studios
| When was Second Dinner Studios founded? | Second Dinner Studios was founded in 2018. |
| Where is Second Dinner Studios headquartered? | Second Dinner Studios is headquartered in Los Angeles, CA, United States. |
| Is Second Dinner Studios publicly listed? | No, Second Dinner Studios is a private, VC-backed company. |
| What is Second Dinner Studios' valuation? | Second Dinner Studios was last valued at $400M in its Series B in January 2024. |
| How much funding has Second Dinner Studios raised? | Second Dinner Studios has raised $130M across 2 funding rounds. |
| What was Second Dinner Studios' last funding round? | Second Dinner Studios' last funding round was a $100M Series B in January 2024, led by Griffin Gaming Partners. |
| Who are Second Dinner Studios' investors? | Second Dinner Studios' investors include Griffin Gaming Partners and NetEase. |
| What is Second Dinner Studios' revenue? | Second Dinner Studios' latest recorded revenue is $200M (January 2024). |
| What is Second Dinner Studios' revenue multiple? | Second Dinner Studios' latest valuation implies a 2.0x revenue multiple ($400M valuation on $200M of revenue). |
| Which companies are comparable to Second Dinner Studios? | Companies comparable to Second Dinner Studios include ZQGame, PlayWay, Theorycraft Games, Wemade, Coffee Stain Group and 4Divinity. |
See companies similar to Second Dinner Studios
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