Seattle-based game developer FlowPlay has repurchased shares from its investors and is now fully-owned by employees and founders.
FlowPlay, a 14-year-old company behind social games such as Vegas World and ourWorld, has seen revenue grow 50% this year. It’s one of many gaming companies experiencing growth during the pandemic as more people play video games.
This year FlowPlay launched Live Game Night and plans to release a new title in 2021. The company has more than 75 million registered users.
“Like much of the online games industry, FlowPlay has not only weathered the storm, but grown,” FlowPlay CEO and co-founder Derrick Morton said in a statement. “We’re happy to extend this success to our investors and employees, and are doing so through a full buyback of our company’s shares.”
FlowPlay has raised $7.2 million to date. Its investors include Intel Capital, Atlas Accelerator, family offices, and angel investors, according to PitchBook. Its board members include WTIA CEO Michael Schutzler and Second Avenue Partners co-founder Mike Slade.
“We are immensely grateful to our investors for their longtime support of our vision and are proud of our team for closing out a trying year on a high note,” Morton said.
Morton, a former exec at GameHouse and RealNetworks, co-founded FlowPlay in 2006 with CTO Doug Pearson, who previously founded and led mobile game studio ThreePenny Software.
Previously: 6 ways the pandemic will change gaming forever