Newly-listed video games publisher tinyBuild today reported soaring revenues and revealed a new board appointment and acquisition.
The developer, which floated on London's junior AIM market in March and is now valued at more than £500 million, saw 2020 revenues up 35% on 2019 to $37.6 million (£26.6 million), and pre-tax profits of $7.7 million (£5.4 million).
Today it revealed the acquisition of collaborator, the Streets of Rogue producer DogHelm, and the immediate appointment of former Activision Blizzard co-president, Nick van Dyk, to its board as an NED.
Van Dyk has been a strategic adviser to tinyBuild since its float. He oversaw adaptation of Activision's popular video game franchises, including Call of Duty.
The Seattle-based tinyBuild - behind Hello Neighbor 2 - was founded by 32-year-old CEO Alex Nichiporchik, who launched the game-maker from his living room in Amsterdam nearly a decade ago.
Nichiporchik, who has a 38% stake in the company, told the Standard van Dyk will be able to "give us a lot of guidance on what to do and what not to do" as it grows from a mid-size company.
He said the lockdown video games boom is showing "no signs" of stopping, and that
"2020 has accelerated the adoption of gaming as a viable entertainment source. Once you start playing you do not stop," he said.
Nichiporchik also hailed London as place for smaller games makers to list. "It is a very international exchange, and we are very spread out," he said. "Plus we were really pleasantly surprised talking to potential investors in the UK. Because of the peer group there was much more understanding of what we are trying to achieve [than in the US]. That was an eye-opener - we were just like, this feels like home."
Shares were up 0.72% on Tuesday morning.
