Wargraphs, a one-man show startup that created a widely-used companion app called Porofessor for League of Legends, has been acquired by MOBA Networks for up to $54 million. The deal is split in two halves, with the first half paid up front and the second paid based on whether certain earnings and growth targets have been reached. The acquisition highlights an interesting trend in the startup ecosystem: it is no longer necessary to raise vast amounts of funding to be successful, as demonstrated by Wargraphs’ very profitable run from one employee and zero outside funding.
Though MOBA Networks is the buyer, it’s interesting to note that Porofessor was built on the platform Overwolf, which was last valued at $515 million in 2021 by PitchBook data. Gaming is a huge business, becoming central to larger ecosystems of products and services, from modding to analytics, that create significant value despite not being the headline blockbusters. The current world of startups is evolving, and Jean-Nicholas, the creator of Wargraphs, has plans to build his own game, a card game to compete with Hearthstone. He has no need to raise outside funding for his newest project, but he will probably need one or two new employees to work with him.
Frequently Asked Questions (FAQs) Related to the Above News
What is Wargraphs and what did they create?
Wargraphs is a one-man show startup that created a companion app called Porofessor for the popular online game, League of Legends.
How much was Wargraphs acquired for and by whom?
Wargraphs was acquired by MOBA Networks for up to $54 million in a two-part deal.
Did Wargraphs have any outside funding for their startup?
No, Wargraphs did not receive any outside funding for their startup and was profitable running solely on the efforts of their one employee.
What does this acquisition indicate about the startup ecosystem?
This acquisition suggests that it is no longer necessary for startups to raise vast amounts of funding to be successful, as demonstrated by Wargraphs' success with their profitable run from one employee and no outside funding.
What platform was Porofessor built on and what is it valued at?
Porofessor was built on the platform Overwolf, which was valued at $515 million in 2021 according to PitchBook data.
What is the current trend in the gaming industry and what significance does it have for startups?
Gaming is a huge business that is becoming central to larger ecosystems of products and services, from modding to analytics, that create significant value despite not being headline blockbusters. This trend suggests that there is potential for startups in the gaming industry to be successful and profitable without needing to raise significant amounts of outside funding.
What are the future plans for Jean-Nicholas, the creator of Wargraphs, and what resources will be required?
Jean-Nicholas plans to build his own game, a card game to compete with Hearthstone. He will likely need to hire one or two new employees to work with him, but he has no need to raise outside funding for his newest project.
Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.
