Kabam says valuation climbs to $700 million with employee stock sale

By Malathi Nayak SAN FRANCISCO (Reuters) – Privately held mobile games maker Kabam is on track for 65 percent higher revenue of $ 300 million this year, and its employees have put up $ 38.5 million of stock for sale in a deal that puts its valuation at $ 700 million, the company said on Monday. The San Francisco-based company, which is behind “Kingdoms of Camelot” and competes with Zynga Inc and Supercell, gave its employees an opportunity to sell stock in a private offering that started late last week and is expected to close in a few weeks, a Kabam spokesman said without divulging details. …

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