Wargaming is beyond a doubt the largest company in Cyprus which is currently paying the most tax. The company was founded in 1998 and now employs over 4,000 professionals, let’s take a look from a startup perspective at how the company grew to such a gigantic status…
The award winning publisher and online game developer is a leader in the free-to-play MMO market across PC, console and mobile. Founder Victor Kislyi has a net worth of $1 billion and the gaming tycoon has recently invested into building a Wargaming headquarters in Nicosia which aims to be the largest building in Cyprus. However with some local Limassol developments the height of the buildings could face some competition.
How they Blew Up
The flagship title “World of Tanks generated on average $7.50 per player in the United States earned from micro-transactions.
Worldwide the company now has almost 60 million registered users across 200 countries which has generated an average of 3.5 million purchased items by 2015.
- Premium account (subscription): Earn additional 50% XP and credits from battles.
- XP to free XP conversion: XP cannot be bought, but XP earned with a single tank can be converted to free XP with real money and thus used to speed up progress on other tech trees, even skipping entire tanks.
- Premium tanks: Tanks that can be purchased with real money and give extra credits from battles (up to tier 8 only).
- Credit conversion: Credits can be bought with real money.
- Consumables: Some consumable items can be bought with real money. They can all also be bought with in-game credits.
- Crew training: Tank crews can be trained faster with real money.
- Garage slots: The amount of garage space in the game is limited, more space can be bought with real money.
- Crew renaming: Tank crews can be renamed with real money.
- Camouflage patterns: Tanks can be given permanent camouflage patterns with real money (mostly just a visual, slight in-game effect on spotting; temporary camouflage can be bought with credits)
According to Kilkku.com 2015
Let’s take a look at how they expanded the gaming services offered to the public, it can easily be seen from a startup perspective, Wargaming.net looked to first enter the market with a set turn-based strategy gaming option. Although from a startup perspective, something beautiful happened. They started to understand the market demand, and in turn modified their games. Following that, the revenue generated soared and through 2014-2016 the company dished out new innovative games which leaned more to multiplayer action but still maintaining echoes’ of the backbone service delivery, turn-based strategy. And then boasting a console presence in 2019 on Xbox One and PlayStation 4. Which in the eyes of Startup Ark, looks to be a ground shaking move by the once indie game developer.
Warganming.net is now looking to acquire gaming studios and in turn utilize the skill sets from those staff. In November 2018 the company acquired Edge Case Games Ltd. A studio comprised of 32 people based in Guildford in the UK which will work together on a new unannounced MMO project.
The studio, comprised of 32 people, will become part of the recently opened Wargaming UK office also based in Guildford and will work together on an unannounced MMO project.
“We are very excited to become part of the world-renowned Wargaming, creating an expanding studio in Guildford,” states James Brooksby, CEO of Edge Case Games. “We have built a great team with lots of relevant experience, who can’t wait to get their teeth into starting work on a big new ambitious game backed by the might of Wargaming.”
Wargaming.net has strengthened its business cabinet through the acquisition, this very much reflects the other moves earlier on when acquiring BigWorld in Sydney, Australia; acquired in August 2012 – Lesta Studio in Saint-Petersburg, Russia; acquired in 2011 and Persha Studia in Kiev, Ukraine; acquired in 2011.
By acquiring Edge Case Games, Wargaming has strengthened its position in the UK too. The business model now – with their colossal growth – looks to also hire the best of the best through a rigorous talent search, aimed to employ within their office expansions, while in turn offering new products and acquiring development studios. A command and conquer business move from the once-startup company.
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