Rise of Hybrid Casual: Is Homa’s IPO on the Horizon?
VICTORY OF HYBRIDCASUAL!
Is Homa’s IPO coming?
Konvoy‘s latest report has brought incredible news to the Hyper & Hybridcasual game development ecosystem.
🥳 🎉 🎊
Homa is a potential IPO candidate!
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Founded in 2018, its big hit will come in the second half of 2019.
“Sky Roller” 🛼 brought new mechanics to the fiercely Runner market.
The player didn’t move a character horizontally across the screen but opened and closed the legs of a roller skater.
According to AppMagic, “Sky” reached a peak of 19MM downloads per month in December 2019 (Hyper’s Golden Age). 🪙👀
It’s one of Homa’s biggest hits with around 200MM downloads so far.
Next, the French publisher 🇫🇷 released new big hits such as “Merge Master” 🦖 (2021 – 130MM) and “Attack Hole” 🕳️ (2022 – 100MM).
And pioneered in the Idle Arcades with “Harvest It!” 🧑🌾 and “Craft Island” 🪵🪓.
According to Crunchbase, Homa has received three investment rounds:
💰 Feb, 2021 – SEED – US$15MM – Headline and Idinvest Partners as lead investors
💰 Oct, 2021 – SERIES A – US$50MM – Northzone
💰 Oct, 2022 – SERIES B – €102.9MM – Headline and Quadrille Capital
A few months after the rounds, Homa always reported an increase in revenue and downloads.
Since last year, they have dived right into Hybridcasual.
Launching exciting Idle Arcades, Shooters, and Runners titles.
They did a wonderful rebranding. 🤩
And despite the struggles of the mobile games market in recent years, the company has carried on growing. 📈
In January, it was announced that they had surpassed 1.5 billion downloads. 🤯
And to diversify revenue sources, they have been betting on cross-platform launches.
Looking at the company’s journey, the IPO makes sense. 👍
Naturally, this is a great victory for the Homa team. 👏
But in my opinion, whether the IPO happens or not, this indication is excellent news for the whole Hyper & Hybridcasual ecosystem.
This means that decision-makers from the VC industry are endorsing the Hybridcasual business model.
And that’s good for everyone! 💃🕺🍾
