TechBookyBusiness
No Result
View All Result
Sunday, June 26, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Investment

Game Development Company Nexters Makes Its Debut On NASDAQ

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
August 27, 2021
in Investment, Market, Stocks
Share on FacebookShare on Twitter

Game development company Nexters, in a business combination with Kismet – a Special Purpose Acquisition Company (SPAC), has started trading Nexters shares on Friday. The two companies revealed the debut on Friday, and according to what Kismet said, the quite unusual deal was the first of its kind between a European company and a Russian Special Purpose Acquisition Company listing shares in the United States.

Although the video game company has its headquarters in Limassol, Cyprus, it was started by Russian founders. Founders Andrey Fadeev; Boris Gertsovsky started Nexters in 2014, about four years of the first meeting. They had independently been working in the gaming industry and had developed several successful games. After starting their company in 2014, they established their headquarters in Cyprus and released Hero Wars which became a global hit. In 2020, Nexters generated $318 million in bookings and $120 million in free cash flow to equity. According to statistics derived from Wikipedia, 35% of the company’s net bookings came from the United States, 23% from Europe, and 19% from Asia. Its flagship product, Hero Wars RPG, was downloaded 36 million times in 2020 on Android and iOS, and as of 2020 the total number of installs that the company has had was more than 100 million.

Kismet, on the other hand, was founded by Ivan Tavrin – a former CEO of Megafone. Kismet had its Initial Public Offering (IPO) on the NASDAQ in August of 2020 and raised $250 million with which it invests in telecoms, technology, consumer goods, and services.

The agreement between Cyprus-based Nexters and Russian Kismet Acquisition One Corp came into fruition early this year with Nexters acquiring the funds that it needed to go on with its NASDAQ listing in July.

According to what a statement by Nexters read, the company’s ordinary shares will be traded under the ticker “GDEV” while its warrants will be traded under the ticker “GDEVW”.

Nexters has plans of consolidating its position in the gaming industry with new products and the funds raised from the deal with Kismet. The deal with Kismet entails receiving $132 million in Cash from Kismet trust account, Kismet Sponsor Limited, and also from PIPE investors VPE Capital and Mubadala Investment Company. According to Nexters, it received $50 million from Kismet and another joint $50 million from VPE Capital and Mubadala Investment Co which gave the company the prerogative to list on NASDAQ; there is a $100 million minimum requirement to be able to list on NASDAQ.

The video gaming company recorded a 48 percent YoY revenue increase in the first quarter.

Total
0
Shares
Share 9
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Online Payments Platform Payoneer Goes Public Shortly After SPAC Merger
    Online Payments Platform Payoneer Goes Public Shortly After…
  • Netflix Acquires Its First Games Developer, Night School Studio
    Netflix Acquires Its First Games Developer, Night School…
  • After Landmark Nasdaq Debut, Coinbase Climbs 10% In Pre-market Trading
    After Landmark Nasdaq Debut, Coinbase Climbs 10% In…
  • Shares Of China EV Maker Xpeng Set To Open Up 1.8% In Hong Kong Debut
    Shares Of China EV Maker Xpeng Set To Open Up 1.8% In Hong…
  • Bolt Makes First-ever Acquisition With Sweden-Based Tech Company Tipser, Launches “Remote Checkout” Tool
    Bolt Makes First-ever Acquisition With Sweden-Based Tech…
  • Tencent Must Give Up Music Licensing Rights In 30 Days, China's Regulator Orders
    Tencent Must Give Up Music Licensing Rights In 30 Days,…
  • Tencent To Buy British Video Game Company Sumo In $1.3 Billion Deal
    Tencent To Buy British Video Game Company Sumo In $1.3…
  • Robinhood Closes Stock Market Debut At $34.82 Per Share, Disappointing Investors
    Robinhood Closes Stock Market Debut At $34.82 Per Share,…
Tags: ipoKismetNASDAQNexters
Previous Post

PawaPay Secures $9m In A Seed Round Participated By MSA, UK-based Investment Firm 88mph And Mr. Eazi-owned Zagadat Capital

Next Post

UK’s Revolut Is Seeking A Banking License To Operate In Australia

Next Post
UK’s Revolut Is Seeking A Banking License To Operate In Australia

UK's Revolut Is Seeking A Banking License To Operate In Australia

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Fintech Playter Secures $55 million to scale its BNPL offering for SMEs
  • Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion
  • E-commerce giant eBay Acquires NFT Marketplace KnownOrigin
  • Big Data Startup Zenysis Gets $13.3 Million In Series B Funding, To Scale Its Platform Across Africa And Others
  • Raba Partnership Leads API Startup Connecting African Businesses Thepeer’s $2.1 Million Seed Funding Round

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce E-Naira earnings earnings season elon musk facebook fintech Funding gadget google government india Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

June 2022
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
27282930  
« May    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Fintech Playter Secures $55 million to scale its BNPL offering for SMEs
  • Payment Startup SumUp Gets $624 Million In Funding At A New Valuation Of $8.5 Billion
  • E-commerce giant eBay Acquires NFT Marketplace KnownOrigin
  • Big Data Startup Zenysis Gets $13.3 Million In Series B Funding, To Scale Its Platform Across Africa And Others
  • Raba Partnership Leads API Startup Connecting African Businesses Thepeer’s $2.1 Million Seed Funding Round
  • Nigeria’s Healthtracka Raises $1.5 Million In Seed Funding

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$21,325.001.16%
  • ethereumEthereum(ETH)$1,224.732.72%
  • tetherTether(USDT)$1.00-0.02%
  • usd-coinUSD Coin(USDC)$1.00-0.12%
  • binancecoinBNB(BNB)$239.122.75%
  • rippleXRP(XRP)$0.3653162.34%
  • Binance USDBinance USD(BUSD)$1.00-0.27%
  • cardanoCardano(ADA)$0.515.09%
  • SolanaSolana(SOL)$40.471.04%
  • dogecoinDogecoin(DOGE)$0.07399011.73%
  • polkadotPolkadot(DOT)$8.092.30%
  • Shiba InuShiba Inu(SHIB)$0.0000122.85%
  • AvalancheAvalanche(AVAX)$20.813.51%
  • matic-networkPolygon(MATIC)$0.593.08%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....