Finland’s Supercell has become Europe’s first decacorn that’s a technology business after a buy out from Chinese web leviathan Tencent worth $10bn.
Its new owner is known in the west while Supercell’s games are consistently at the top of download charts. Tencent is renowned for its WeChat messaging program, a sprawling communications service which is China’s equivalent of the App Store and WhatsApp, Twitter, Facebook, PayPal all rolled in to one, and is worth $207bn.
WeChat has 762 million monthly users, and many of them play mobile games. Nearly one tenth of world-wide game sales will come in accordance with market research workers Newzoo. Along with Supercell, Tencent possesses Riot Games, making League of Legends, a Moba that’s the highest-grossing PC game thanks mainly to its strength in eSports.
We need Supercell to function as world’s best spot for creative people to create games, said Ilkka Paananen, Supercell CEO. At once, this new venture offers us exciting growth opportunities in China, where we are going to have the ability to reach countless millions of new gamers via Tencent’s stations.
Supercell is used to distant owners it was part of Japanese telecoms company SoftBank. Under SoftBank we appreciated a good deal of freedom, Paananen told the Wall Street Journal. Like to think as a group of 190 entrepreneurs rather than the usual business of Supercell.
The $10bn hurdle broke only after it was identified one of four firms likely to be the first to achieve this by a report from technology bank GP Bullhound. That report revealed the UK has the unicorns with 18 British technology companies topping $1bn, in Europe.