In the tech world, it’s common to talk about unicorns — startups that achieve market valuation above $1 billion. The comparison with the mystical creatures arises from the fact that it is not that easy to find organizations in these conditions, although the games market seems to be full of them, as revealed by a survey by Games One.
A ranking created by her shows that there are at least 25 companies in the middle with these characteristics. Led by Chinese company ByteDance — owner of TikTok —, valued at $62.5 billion, it reveals a total market valuation of $192 billion, a figure that could rise even further in coming years.
As Games One founder Evan Van Zelfden explained to GamesBeat, companies that reach the unicorn stage start to be not that rare. He explains that more and more organizations related to the game world are attracting the attention of investors and can reach that level, as long as they are not bought before then.
Top 10 Unicorns in the Games Industry
- ByteDance – $62.5 billion;
- Epic Games – US$28.7 billion;
- Krafton – US$17.9 billion;
- Valve – US$17.8 billion;
- ironSource – US$9.4 billion;
- smilegate – US$8.9 billion;
- Playrix – US$7.8 billion;
- Discord – US$7 billion;
- miHoYo – US$4.6 billion;
- Niantic – $4 billion.
Zelfden notes that the assessment of a company’s value can turn out to be lower than that obtained after a public offering. Unity, for example, was valued at $6 billion when it held its IPO, but is currently valued at $24.69 billion — a similar situation to Roblox, which went from $29.5 billion to $42.86 billion.
Among the elements that make it difficult to evaluate a company is the fact that not all companies disclose their financial data publicly, especially those that have not gone public. In the case of ByteDance, for example, Games One took into account the fact that 25% of its revenues supposedly come from the games market, which generated the estimate pointed out in the ranking.
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