Voodoo Revenue, Valuation, Funding & Investors

Voodoo is valued at $2B as of August 2021, a 4.5x multiple on its last reported $437M revenue.

Last Voodoo valuation

$2B

Strategic investment · Aug 2021

Last Voodoo funding round

$314M

Strategic investment · Aug 2021

Voodoo revenue

$437M

Strategic investment · Aug 2021

Key investors in Voodoo

Voodoo Overview

About Voodoo

Voodoo is a Paris-headquartered mobile game publisher specializing in hypercasual titles such as Helix Jump and Aquapark.io. The studio develops and distributes free-to-play games across iOS and Android platforms worldwide.


Founded

2013

HQ

FranceParis

Website

voodoo.io

Status

Privately held

Customer focus

B2C

Revenue model

Advertising

Revenue

$437M (Aug 2021)

Valuation

$2B (Aug 2021)

Voodoo Valuation

Voodoo is currently valued at $2B, based on its strategic investment round in August 2021.

The $314M round was led by Groupe Bruxelles Lambert.

Voodoo valuation by funding round

Voodoo valuation by funding round
DateStageValuationRevenue Multiple
Aug 2021Strategic investment$2B4.5x

Voodoo Revenue

Voodoo's latest recorded revenue is $437M, as of its strategic investment round in August 2021. At a $2B valuation, that implies a 4.5x revenue multiple.

Voodoo revenue by funding round

Voodoo revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Aug 2021$437M$2B4.5xStrategic investment

* 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.

Voodoo Funding History

Voodoo has raised a total of $515M across 3 funding rounds.

Voodoo's first fundraising round was a $1M seed round in October 2015. The most recent completed round was a $314M strategic investment round in August 2021.

Voodoo funding rounds

Voodoo funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Aug 2021Strategic investmentGroupe Bruxelles Lambert (lead)$314M$2BVoodoo is a Parisian hypercasual mobile games developer founded in 2013 by Alexandre Yazdi and Laurent Ritter, known for titles with over 5 billion downloads and approximately 300 million monthly users. The company transitioned from hypercasual to hybrid casual games around 2021. In July/August 2021, Groupe Bruxelles Lambert (GBL) invested €266 million for a 16% stake at a post-money valuation of €1.7 billion, with the transaction expected to close in Q3 2021. This followed prior investments from Goldman Sachs ($200 million in 2018) and Tencent (undisclosed significant minority stake in 2020). The funding was intended to fuel Voodoo's product expansion into broader gaming and entertainment apps while strengthening technological infrastructure. In 2020, Voodoo reported revenues of €380 million, up significantly from €1 million in 2016. The company expanded through acquisitions like BidShake (marketing automation platform) in June 2021 and OHM Games in December 2020, whose games generated 260 million downloads that year. Voodoo also opened offices in Singapore and Japan in 2020 and invested in Istanbul-based Fabrika Games in September 2020. Some sources mention a slightly higher valuation of $1.9B or €1.966B equivalent, but primary announcements confirm €1.7 billion post-money.
May 2018Undisclosed stageGoldman Sachs (lead); Goldman Sachs Growth Equity; West Street Infrastructure Partners$200M-Voodoo, a Paris-based mobile games publisher and developer, raised an estimated $200 million from Goldman Sachs in May 2018. The funding was intended to develop a publishing hub to assist mobile game developers and support growth and expansion. CEO Alexandre Yazdi confirmed the investment during Casual Connect Europe, noting the company was on track for a billion downloads in 2018 with titles like Baseball Boy, though he declined to disclose the exact amount raised. Goldman Sachs led the round, aligning with their investments in technology and consumer goods sectors. Sources consistently report the round size as approximately $200 million, positioned as a significant deal in the 2018 gaming investment landscape totaling $5.7 billion across companies. This funding helped Voodoo scale operations amid a boom in mobile gaming investments. No post-money valuation is specified for this 2018 round; later valuations appear in subsequent rounds, such as $1.4 billion in August 2020 led by Tencent. Revenue, ARR, or EBITDA figures near May 2018 are absent from sources. Voodoo later grew to over 7 billion total downloads and 200 million monthly active users, with expansions through acquisitions and investments like in Fabrika Games.
Oct 2015SeedSAIF Partners$1M--

Who has invested in Voodoo?

5 investors have backed Voodoo across its funding rounds, including Goldman Sachs, SAIF Partners, Goldman Sachs Growth Equity, Groupe Bruxelles Lambert and West Street Infrastructure Partners.

Lead investors include Groupe Bruxelles Lambert and Goldman Sachs.


Voodoo Investors

Investors in Voodoo by funding rounds participated
InvestorHQRoundsRoleFirst check
SAIF PartnersHong KongHong Kong1ParticipantOct 2015
Groupe Bruxelles LambertBelgiumBrussels1LeadAug 2021
Goldman SachsUnited StatesNew York City, NY1LeadMay 2018

This data is available for Pro users. Sign up to see all 5 Voodoo 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 Trial

Acquisitions by Voodoo

Voodoo has acquired 7 companies to date.

Last acquisition by Voodoo was on May 10th 2026. Voodoo acquired Digital Century Company for undisclosed valuation.


Latest Acquisitions by Voodoo

Digital Century Company
BeReal
Beach Bum
Bidshake
Description
Digital Century Company draws on expertise from businessmen, industry leaders, and digital entrepreneurs to advance technology ventures and platforms.
BeReal is a Paris-headquartered social media application launched in 2020 that prompts users daily at a random time to capture and share unfiltered front and back camera photos within two minutes. Designed to promote authenticity, the platform limits editing and filters, fostering genuine daily life moments among friends. By 2023, BeReal expanded to Android and iOS in over 180 countries with features like Discovery for public posts and RealMoji reactions.
Beach Bum is a game development studio creating freemium online multiplayer titles, starting with Lord of the Board Backgammon. The company focuses on head-to-head challenges in casual gaming environments for web and mobile platforms.
Bidshake is a marketing automation platform dedicated to mobile game publishers for user acquisition and monetization. London-headquartered, it integrates ad network optimization, campaign management, and analytics to maximize return on ad spend across channels like rewarded video and interstitials. The solution supports real-time bidding and audience segmentation tailored to gaming audiences worldwide.
HQ CountryFranceFranceIsraelIsrael
HQ City
Paris
Paris
Ra'anana
Tel Aviv
Deal Date10 May 202611 Jun 202430 Sep 202110 Jun 2021
Valuationundisclosed$540M$300Mundisclosed
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Voodoo acquisitions and their M&A valuation multiples.

Start Free Trial

Investments by Voodoo

Voodoo has invested in 2 companies to date.

Latest investment by Voodoo was on March 15th 2022. Voodoo invested in Volt Games in their $2M Seed round.


Latest Investments by Voodoo

Volt Games
Fomo Games
Description
Volt Games is a mobile game developer creating hyper-casual and casual titles for iOS and Android platforms. Its portfolio features Football Cash, Perfect Fighter, Agent Volt, Climb The Rope, Agent Bullet 3D, and Football Star, emphasizing polished mechanics and broad accessibility.
Fomo Games is an Istanbul-headquartered mobile game studio founded in 2019. It develops casual puzzle games for broad audiences on iOS and Android platforms. Titles emphasize long-term playability with intuitive mechanics and frequent updates to retain millions of daily users worldwide.
HQ CountryPortugalTurkey
HQ City
Lisbon
İstanbul
Deal Date15 Mar 202212 Mar 2021
RoundSeedSeed
Raised$2M$2M
InvestorsRui Pereira; Aream & Co; Sebastien Borget; Niall Curran; Shilling VC; Chris LeeFisun Koç Doğan; Timo Schlaefer; Erinç Özada; Alexandre Carel; AREA group
Valuationundisclosed$24M
EV/Revenue
EV/EBITDA

This data is available for Pro users. Sign up to see all Voodoo investments and their VC round multiples.

Start Free Trial

Voodoo Competitors

Voodoo competitors include listed companies like Yalla Group, VNG Corp. and Kunlun, and private ones like Yello Mobile, Calm and InMobi.

Public and private companies comparable to Voodoo
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Yello MobileSouth KoreaSouth KoreaPrivate--$4B-
Yalla GroupUAEUAEPublicly listed$342M$128M$827M-
VNG Corp.VietnamVietnamPublicly listed$420M$23M$657M-
KunlunChinaChinaPublicly listed$1.2B($230M)$8.3B5.7x
CalmUnited StatesUnited StatesPrivate$300M-$2B6.7x
InMobiIndiaBangalorePrivate$1B-$2B2.0x

Voodoo Public Comps

Voodoo is still privately-owned, but its public comps include Embracer Group, Netmarble, YOOZOO Games, Meitu, XD, Modern Times Group, Opera, Ourpalm, mixi and Ireader.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Embracer Group$1.6B$414M1.0x0.9x3.8x3.9x
Netmarble$2.1B$389M1.0x1.1x5.6x6.6x
YOOZOO Games$209M($15M)9.2x9.0x(126.6x)34.0x
Meitu$575M$137M3.0x2.6x12.5x9.6x
XD$859M$262M2.0x1.8x6.6x6.1x
Modern Times Group$1.2B$210M1.7x1.6x9.4x6.7x
Opera$615M$141M2.4x2.1x10.5x9.2x
Ourpalm$105M($31M)11.9x12.3x(40.4x)366.4x

This data is available for Pro users. Sign up to see all Voodoo competitors and their valuation data.

Start Free Trial

Common questions about Voodoo

When was Voodoo founded?Voodoo was founded in 2013.
Where is Voodoo headquartered?Voodoo is headquartered in Paris, France.
Is Voodoo publicly listed?No, Voodoo is a private, VC-backed company.
What is Voodoo's valuation?Voodoo was last valued at $2B in its strategic investment round in August 2021.
How much funding has Voodoo raised?Voodoo has raised $515M across 3 funding rounds.
What was Voodoo's last funding round?Voodoo's last funding round was a $314M strategic investment round in August 2021, led by Groupe Bruxelles Lambert.
Who are Voodoo's investors?Voodoo's investors include SAIF Partners, Groupe Bruxelles Lambert, Goldman Sachs, Goldman Sachs Growth Equity and West Street Infrastructure Partners.
What is Voodoo's revenue?Voodoo's latest recorded revenue is $437M (August 2021).
What is Voodoo's revenue multiple?Voodoo's latest valuation implies a 4.5x revenue multiple ($2B valuation on $437M of revenue).
Which companies are comparable to Voodoo?Companies comparable to Voodoo include Yello Mobile, Yalla Group, VNG Corp., Kunlun, Calm and InMobi.
How many companies has Voodoo acquired?Voodoo has acquired 7 companies, including Digital Century Company, BeReal, Beach Bum, Bidshake and OHM Games.
What was the largest acquisition by Voodoo?The $540M acquisition of BeReal in June 2024 is the largest acquisition Voodoo has made to date.
How many companies has Voodoo invested in?Voodoo has invested in 2 companies, including Volt Games and Fomo Games.
What was Voodoo's last investment?In March 2022, Voodoo invested in Volt Games' $2M seed round alongside Rui Pereira, Aream & Co, Sebastien Borget and 3 other investors.

See companies similar to Voodoo

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial