Eric Johnson

Recent Posts by Eric Johnson

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.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work