After acquiring Israeli startup Armis earlier this month for $1.1 billion, Insight Foundation invests $125 million in Moon Active, the COIN MASTER game operator, at a $1.25 billion valuation.
Moon Active has raised $10 million to date, with each raising $3-2 million.
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Moon Active has grown significantly over the past two years and finished 2019 with income over half a billion dollars and tens of millions of dollars revenue. The deal, in which Insight acquired shares from existing shareholders, reflects on Moon’s asset value of $1.25 billion.
The company’s investors are Gigi Levy-Weiss, Or Ofer, Guy Gamzo, the Singulariteam Fund, David Alliance, Jonathan Kolber and Roy Oron. Insight will hold 10% of the company.
Founded in 2012 by CEO Shmuel Albin, the son of Israeli businesspeople Galia and Mickey Albin. Moon Active developed mobile games. The company has development centers in Tel Aviv and Ukraine, and employs about 300 people and plans to recruit 200-100 more during 2020.
One of the company’s social mobile game Coin Master became very popular. 50% of the game’s revenue comes from the US, 15% from the UK, and 10% from Germany. The company enjoys the fact that the gaming market is the fastest-growing market today, both in terms of size and growth rate, given the large use of smartphones in recent years.
In the Coin Master, players build virtual villages and can upgrade and fight other players. The basic game is free for download while the business model is based on virtual acquisitions to upgrade the game and players’ capabilities – players can pay money to gain an advantage, including through a mechanism that is very similar to slot machine gambling.
Moon Active is currently exploring the acquisition of new companies in the gaming market.
