Ömer Yakabagi

Playstudios, a game studio that runs online and mobile social games, is planning to reduce its workforce by about 30%, which will impact over 200 employees. This cutback is part of a reorganization plan aimed at saving up to $30M each year. Playstudios expects to spend between $14 million and $16 million, mostly for employee transition and severance costs. The company anticipates most of these layoffs will be completed by the end of this quarter. At the end of 2023, Playstudios reported having 697 full-time and 13 part-time employees across eight countries. After this announcement, Playstudios' stock dropped by 4.3% to $1.32 in after-hours trading. This reorganization news follows a disappointing third quarter, where Playstudios reported a loss of $3.1 million (or 2 cents per share), compared to a profit of $3.8 million (or 3 cents per share) during the […]

Supercell Acquires Space Ape, Launching London Office by Spring 2025 Supercell has completed its acquisition of Space Ape, which will become the company’s first official London office by spring 2025. The Finnish developer confirmed, “Space Ape will now be part of Supercell rather than operate independently.” ‘Supercell London’ will join existing studios in Helsinki, Shanghai, San Francisco, and Seoul. Supercell previously acquired 62%, a majority stake in Space Ape in 2017, increasing it to 75% in 2022 with a $37 million investment. Currently, Space Ape is collaborating with Supercell on Hay Day and previously launched Boom Beach Frontlines, a spin-off discontinued in 2022. Supercell CEO Ilkka Paananen expressed excitement over the move, saying, “By joining forces with Space Ape, we’re strengthening our teams and expanding our mission to create memorable games people love to play for years.” Space Ape CEO […]