How Much to Ask From Investors?

Photo by Hadija on UnsplashOne of the most critical aspects of fundraising that founders often get wrong? The answer to "How much are you raising?"Here's what I've learned about this question after years of investing and advising startups.1. Be Precise, Not VagueWhen a founder tells me they "need to raise at least $500K," I immediately wonder: Why not simply say "I'm raising $500K"? Exact numbers signal you've done the math.Even worse: "We're looking to raise between $1M and $1.5M." That's a 50% range! This suggests you haven't thoroughly planned your capital needs.2. What VCs Actually EvaluateAs an investor, when it comes to the amount you are raising, I primarily focus on:Your targeted monthly burn rate post-fundraiseYour discipline in maintaining that burn rateWhether the amount gives you at least 18 months of runwayWhy 18 months? Because we're already thinking about your […]

Joakim Achren April 15

Analysis

The Addictive and Wildly Profitable World of Solitaire Grand Harvest

How Solitaire Grand Harvest Turned a Simple Card Game into a $1 Billion Mobile Empire? If you told someone that a solitaire game could generate over $1 billion in revenue, they might raise an eyebrow and ask, "Is it made of gold cards?" But that's exactly what Solitaire Grand Harvest has done. From humble beginnings as a card game, Solitaire Grand Harvest has grown into one of the most successful and addictive mobile games of all time. With a brilliantly balanced blend of solitaire mechanics, farm-themed progression, and casino-inspired monetization, this game redefines what a casual title can achieve. Whether you're a casual gamer curious about why this game is so beloved, a game designer trying to dissect its secret sauce, or just someone who appreciates clever mobile design, this is one journey through the fields of innovation worth taking. And for me personally? This […]

Aylin YAZICI April 14

Journal

Old Vs. New Mobile Gaming

The mobile game industry has changed. What worked five years ago? Won’t cut it today.Here’s how the game has changed 👇 𝗞𝗣𝗜𝘀 🔴 Old way: DI1–D7 retention, downloads, conversion rate 🟢 New way: Playtime, ARPU, ROAS, D30–D360 retention 𝗚𝗮𝗺𝗲𝗽𝗹𝗮𝘆 🔴 Old way: Copy top games, no originality 🟢 New way: Unique, deep, and engaging gameplay 𝗣𝗿𝗼𝗴𝗿𝗲𝘀𝘀𝗶𝗼𝗻 & 𝗿𝗲𝘄𝗮𝗿𝗱𝘀 🔴 Old way: Slow grind, hard paywalls, rewards locked behind IAPs 🟢 New way: Fast progression, soft paywalls, generous free rewards 𝗠𝗼𝗻𝗲𝘁𝗶𝘇𝗮𝘁𝗶𝗼𝗻 🔴 Old way: Choose either IAP or Ads 🟢 New way: Hybrid model: a mix of IAP, Ads, and subscriptions 𝗟𝗶𝘃𝗲𝗢𝗽𝘀 🔴 Old way: Optional; launch and forget 🟢 New way: Mandatory: constant support drives success 𝗠𝗮𝗿𝗸𝗲𝘁𝗶𝗻𝗴 & 𝗨𝗔 🔴 Old way: Rely on paid UA and fake creatives 🟢 New way: Mix paid and organic, focus on real gameplay […]

Anton Slashcev April 13

Highlights

Mika Games Invests $2M in the Future of Tower Defense

Mika Games Invests $2 Million in Hybrid-Casual Game Set to Surpass Plants vs. Zombies A new challenger has entered the arena, and it's gunning for Plants vs. Zombies' crown. Mika Games, the ambitious gaming fund founded by Wargaming co-founder Nick Katselapov, just dropped $2 million into Agonalea Games, the Buenos Aires-based studio behind Punko.io — a hybrid-casual tower defense title with mid-core depth and mobile market bite. Why? Forget the watered-down reboots. Punko.io hits different. It blends the strategic soul of Clash Royale, the addictive thrill of Archero, and the nostalgic charm of classic Flash games — all while dodging the hyper-casual traps of cheap gimmicks and over-monetization. RPG-style item management, slick design, and a progression loop that actually respects the player? That’s the formula Agonalea is perfecting. Founded by industry veterans Pedro Aira (ex-Sensor Tower) and Vanina Fregoti (ex-Pixowl), […]

Gamigion April 11

Journal

The numbers for Q1 2025 here.

The numbers for Q1 2025 are in 👇 Every quarter, we take some time to analyse where the market is shifting, and not always in the ways we’d expect.📉 Android saw a drop in both downloads (-8.5%) and revenue (-4.8%) YoY.📈 iOS? Downloads dipped slightly, but revenue grew by 2.4% YoY. Players are spending more, even as installs slow down.But that’s not all:🧩 Puzzle and Casual games still dominate in downloads.⚔️ RPGs and Strategy games continue to lead in revenue.🇺🇸 The US drives monetization in Casual and Casino.🇯🇵 Japan loves RPGs and Simulation.🇨🇳 China is ramping up in Action and Strategy on iOS.

Richard Kos April 11

Highlights

Gaming M&A to $6.6B in Q1 2025: Scopely’s $3.5B Power Move

Aream & Co. Quarterly Gaming Report here. M&A activity surged to $6.6 billion in Q1 2025 — the highest in two years — more than doubling the $3.2B from Q1 2024. Leading the charge? Scopely’s massive $3.5 billion takeover of Niantic’s licensed games business — think Pokémon Go, Monster Hunter Now, Pikmin Bloom. That one deal alone carried the quarter, propelling M&A past even pre-pandemic highs. Without it, numbers would’ve slightly dipped year-over-year. Mobile gaming dominated, as usual, driving most of the quarter’s value. Private consolidators stayed aggressive despite financing hurdles, reshuffling portfolios, and hunting for opportunity. Miniclip followed close behind with a $1.2B acquisition of puzzle giant Easybrain The momentum didn’t stop at M&A: Mobile saw modest growth, with Asian studios like Habby, Dream Games, and Florere leading the U.S. market surge. On PC, Steam hit a record concurrent […]

Gamigion April 10

Journal

Tax break

A 90-day cooldown on Trump’s Ultimate. Much of the following will have changed by the time you’re done reading it. But I insist that what is considered the “biggest trade shock in history” by people who would know this sort of thing deserves our attention. It’s been nothing short of a historic week. For one, I was accused of providing a “leftist talking point” by a far-right publication for arguing that the extra $50 for the Switch 2 was a Trump-imposed tax. Evidently, in addition to their “misogynistic, xenophobic, and racist” writing, such publications also have a deep understanding of video game economics. I further realize that having Nintendo’s CEO, Doug Bowser, deny that tariffs were a consideration in the new device’s pricing carries more weight than whatever I have to say. I accept that. He’d know. But what else can he say? If […]

Gamigion April 10

Analysis

Rip and Tear: Job Hunting in Gaming’s Hunger Games Era

I have a high degree of impostor syndrome going into this. 😅 I feel that these kinds of articles are usually written by big names in the gaming industry who have the power to shake things up and draw attention to glaring issues. However, I'll bite the bullet! Today, you won't read the story of a gaming industry veteran, ex-Blizzard, ex-Riot, etc., but rather one of a “more average Joe”. Or Paul. But a Paul who is passionate about gaming and the industry of creating games. My higher education is in management and marketing, but my chosen path is that of a Product Manager for digital apps. Including free-to-play mobile games. I worked for around 15 years as a PM so far, 5 of which are in the gaming industry. I came to the gaming industry from classifieds/e-commerce and was […]

Paul Gramada April 9

Highlights

Mobile Gaming Today: April’9 Week

Hey Fam, I’m pretty curious if Trump’s new +104% tariffs on China will affect mobile gaming. Lmk how you feel about that ¯\_(ツ)_/¯ And - Lezgo! 👇🏻 👌🏻 Top Gaming Content » Why Now Is the Worst Time to Launch a Match-3? 🧩 Match-3 is still a $5B beast, dominating Puzzle Game revenue, but breaking in is brutal. No Western Match-3 title has hit $100M since Royal Match (2020), unlike the 2013–2017 boom. It’s saturated with UA hurdles and content-rich giants guarding the gates. The smarter move? Start with adjacent hits, Tile Match, Sort, Match-3D. These rising subgenres offer room to build your puzzle chops, monetization muscle, and LiveOps flow, without getting crushed. Think Spyke Games: smaller wins today, bigger Match-3 ambitions tomorrow. In this red ocean, scaling sideways might be the only way up. 🍕 Game of the Week: […]

Gamigion April 9

Highlights

Applovin vs. Unity: How Applovin Has Been Winning It All!

We are at a dangerous crossroads where Applovin is poised to dominate the mobile ads market completely. What's going on? How did this happen? And what's next? Pay attention, folks, this one is a banger and has critical implications for the games industry's future. Something strange has happened in the mobile ads market since the failed merger between Applovin and Unity in August 2022. Applovin has quietly been dominating and significantly growing its share of the market. Source: GameMakers 2025 We can easily see the relative performance of both companies reflected in their market valuations. What happened? How did Applovin win vs. Unity? Why does Applovin have a massive competitive advantage and iron grip customer lock-in? How does the current situation critically impact the games industry (this is important)? How can Unity or anyone else help create a healthier market […]

Joseph Kim April 8

Journal

We have some stabilisation in Mobile Gaming business.

It seems that we have some stabilisation in mobile gaming business. Based on Sensor Tower mobile gaming (excluding China) in Q1 2025 grew by 2% YoY (with iOS growing 5% YoY and Android declining -5% YoY). Once we look at the data, we can see that: ▪️ It is more and more a fight for attention - for the last quarter's revenue grows faster than downloads; it is easier to increase the monetisation ofthe user base than that user base ▪️ most likely, the real growth of mobile gaming is higher (the worst results are in hardcore and core gaming, where some additional direct-to-consumer payments are getting some popularity) ▪️ In the next months, we can expect a relatively low, although stable, growth rate of the mobile gaming business.

Mariusz Gąsiewski April 8

Highlights

Gaming ON: Rina Onur Sirinoglu Talks Spyke Games

Last week, we had a wonderful chat with Rina Onur Sirinoglu, CEO & Co-Founder of Spyke Games, and one of the key figures behind Peak’s legendary rise. We talked about how far Turkey's Mobile Gaming ecosystem has come and where it’s headed next. From humble beginnings to billion-dollar exits, from scrappy teams to world-class talent, all about what’s changed, what still matters, and why the next big gaming wave might just start in Istanbul. Some real gems in here, lezgo! 🕺🏻 How has the Turkish gaming ecosystem changed since the founding days of Peak? When Peak was founded in 2010, the gaming world was a completely different place. There was virtually no mobile gaming scene, and certainly no “ecosystem” to speak of in Turkey. In those early days, we found ourselves learning by doing—figuring things out as we went along. […]

Ömer Yakabagi April 8

#GamingBusiness

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