AppLovin, a mobile games company that fuels the growth of many of the world’s most popular mobile games and game studios, today announced it has made a strategic investment in Redemption Games. Terms of the investment were not disclosed.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200504005275/en/
San Diego area-based Redemption Games was established in 2015 by co-founders Michael Witz and Dan Lin, who led the team that designed and developed chart-topping Cookie Jam (a leading match-3 game with more than $500M in lifetime sales). Following an investment from Supercell in 2018, the talented duo launched Sweet Escapes in July 2019 — this year’s fastest growing puzzle game in the app store — and claimed the only new studio to break into the Top 100 grossing puzzle games within the last year. Redemption Games will continue to operate independently with existing management.
“We are excited to work with a market leader that can really help us grow our studio,” said Michael Witz, Chief Executive Officer and Co-Founder of Redemption Games. “Building on the success of Sweet Escapes, this investment enables us to bring together all the ingredients needed to create new hit games, and ensures those games will delight and get in front of players all over the world.”
“We have been impressed by the team’s strategy and ongoing execution of Sweet Escapes,” said Jaakko Harlas, Developer Relations Lead at Supercell. “As an early investor, we are proud to have been part of Redemption Games’s story and we are excited for Michael, Dan and the team as they take the next step in the company’s journey together with AppLovin’s market-leading team.”
Redemption Games joins AppLovin’s global mobile gaming ecosystem of partner studios including PeopleFun, Belka Games, Clipwire Games, Firecraft Studios and Geewa, as well as its in-house studio, Lion Studios. AppLovin has been making strategic investments in gaming studios since 2018.
“The last six months have been a very active time for AppLovin with several strategic investments in high growth studios. This investment came together very quickly and we expect a similar pace with other studios we partner with over the coming months,” said Jordan Satok, Vice President of Corporate Development at AppLovin. “We are thrilled to partner with Michael, Dan and their talented team. Redemption Games is a studio with huge growth potential. Our investments have helped numerous mobile game developers achieve category topping results, grow their businesses and we are excited to fuel a local California studio and see it thrive.”
AppLovin is a mobile games company that fuels many of the world’s most popular mobile games through its game studios and marketing technology. Since 2012, the company’s platform has been instrumental in driving the explosive growth of mobile games around the globe, resulting in a richer mobile game ecosystem and better games for people everywhere. AppLovin is headquartered in Palo Alto, California with several offices globally. Learn more at applovin.com.