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f13.net  |  f13.net General Forums  |  The Gaming Graveyard  |  MMOG Discussion  |  Eve Online  |  Topic: CCP Games Raises $20M 0 Members and 1 Guest are viewing this topic.
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Author Topic: CCP Games Raises $20M  (Read 4960 times)
UnsGub
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Posts: 182


on: August 10, 2012, 07:47:01 AM

The funding comes in the form of convertible bonds raised from Icelandic institutional investors, according to Chief Financial Officer Joe Gallo. Founded in 1997, CCP previously raised $20 million in equity financing.

...

Reid says the funding will allow CCP to prepare for an IPO. The company doesn’t have any immediate plans to go public, but he says the money “allows us is to do some of the things you need to do for IPO preparedness,” such as building greater redundancy into its computer systems, so that it’s ready to go public when and if the time is right.

http://techcrunch.com/2012/08/09/ccp-dust-514-funding/
Gets
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Reply #1 on: August 10, 2012, 09:59:12 AM

Can't wait to see the new fishtank.
Comstar
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Reply #2 on: August 10, 2012, 10:22:16 AM

I wonder how this will impact the 1/3 ownership by Iceland's ex-richest man and member of the Russian Mafia.

Defending the Galaxy, from the Scum of the Universe, with nothing but a flashlight and a tshirt. We need tanks Boo, lots of tanks!
MahrinSkel
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When she crossed over, she was just a ship. But when she came back... she was bullshit!


Reply #3 on: August 10, 2012, 11:55:52 AM

It depends on exactly what the terms of the bonds are, what restrictions and conditions on the conversion to stock are written into them.  In theory, they could dilute the equity of existing stockholders, but they may not have full voting rights, or there's such a large block of preferred stock they're nearly irrelevant for voting purposes, and there may be an option for the company to pay a higher coupon rate rather than allow them to be converted to stock.

We have some economists and wall street types around, although I don't know how many of them are still watching this forum.  If you really want an answer to the question, you might do better asking it in the next forum up.

--Dave

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Kageru
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Reply #4 on: August 10, 2012, 06:44:11 PM


I take it as an admission the Dust development is costing a fortune. Good thing they stopped trying to develop it and the vampire MMO in parallel.

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TripleDES
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Reply #5 on: August 16, 2012, 04:03:33 AM

IPO? Really?

For that, they'd need to expand their playerbase by a lot, and that means getting Incarna on full steam again as well as introducing new game modes for both space and avatars. Things beyond the arduous grind this game is.

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IainC
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Reply #6 on: August 16, 2012, 04:17:00 AM

I wrote about this on my blog 6 months ago.

- And in stranger Iains, even Death may die -

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Stabs
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Reply #7 on: August 20, 2012, 02:10:39 AM

It seems to be part of a wish to be almost absurdly ambitious such as we saw last year in the "Summer of Rage."

What most Eve players want is that they caretake Eve and roll out a title or two that have relatively modest development costs so that it won't bankrupt the company if a new title doesn't sell well. Instead the CCP management seem very keen on an ambitious high roller strategy.

Of course they may benefit individually from selling their ownership and I don't begrudge people who run a tech company cashing out - it's what I would want to do in their position.

It may not be particularly good for Eve though.

Having said all that I would love it if DUST and particularly the DUST- Eve interface rocks. I'm enjoying DUST and would enjoy it a lot more if my characters in Eve were finding powerful DUST bazookas in archaelogical digs in wormhole space for my DUST characters to frag with. We'll just have to keep my fingers crossed as they take on ambitious projects and (sic) aim for the stars.
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