That’s A Lotta Zeroes
Yes, really. Nine-hundred-and-fifty million dollars. AIM (an acronym for Alternative Investment Market) is a sub-market in the London Stock Exchange, and one that Devolver Digital made itself available for this morning – evidently, to great success. The company has found a number of new investors, who’ve entrusted Devolver with several million dollars to make a profit with. That alone is a huge win, but it also grants them another accolade: they’re second biggest company ever to be traded on AIM.
So, yeah, if Devolver Digital’s E3 presentations weren’t enough to clue you in, they’re a big deal now. They still have a ways to go, though: industry titans on the level of Ubisoft or Nintendo are sitting atop a valuation of over 6 billion. Still, a nine-digit valuation is no small feat, and the business will likely continue to be a mainstay of the gaming space for years to come.
Interestingly, Devolver Digital seems to have taken a unique strategy for growing as a gaming-focused business. While they’ve brought plenty successful games to the market, none of them have seen anywhere near the success as many AAA titles. Their games, which include the likes of Loop Hero, Hotline Miami, and the upcoming Weird West, retain a kind of polished indie-like charm – putting out some incredible results, but never taking the world by storm. This distinction didn’t go unnoticed by those keeping close tabs on the company’s games, and one user had a theory:
“For people wondering why [Devolver Digital] is valued so high, my theory is that its because they’re consistent. Devolver might not have the big AAA releases, but the games they do put out all tend to be of a certain quality level and almost always do well. Not necessarily gangbusters numbers, but enough to cover development, marketing, and have a nice tidy profit on top. So in terms of investing, you can’t really go wrong with them at the moment. Forecast is they’ll only get better with time.”
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