Secondary Offering Values Privately Held Kabam at $700 Million
An mix of unnamed old and new investors has pinned games company Kabam’s value at $700 million in a $38.5 million secondary offering for current and former employees’ shares. The privately held company is best known for massively multiplayer free-to-play online titles like Kingdoms of Camelot. “None of the new investment is going to Kabam,” CEO Kevin Chou was quoted as saying in a press release. “It’s all going to employees who wish to sell their shares, and it’s of course a voluntary program.” Kabam is profitable, and claims to have $50 million cash in its war chest.