G5 Entertainment Shareholders Appoint Chris Carvalho, Former Kabam COO, to Board of Directors
Chris Carvalho spent almost ten years at Lucasfilm, where he headed up Business Development for all of the Lucas companies and ran the company's Internet division, including StarWars.com. Most recently, Chris spent four years at San Francisco-based free-to-play mobile game company Kabam as Chief Operating Officer. Kabam was funded by Google Ventures and Time Warner, among others, and grew during Chris's tenure from 25 to 700+ employees with offices on three continents and from approximately $2 million in revenue to $360 million. Chris graduated from the University of California, Berkeley, Haas School of Business with a degree in business administration. He also holds an MBA from UCLA’s Anderson School of Management.
Vlad Suglobov, co-founder and CEO of G5 Entertainment AB, says, “G5 is focused on the needs of casual game players, primarily in Western markets, and has been especially successful with the female audience. We started with a broad portfolio of over 100 games and have since narrowed it down to 10 free-to-play games that today generate most of the company’s revenue. Our games are played by over 3 million players monthly and demonstrate high retention rates and monetization – our players are staying and paying within our games for several years. We welcome Chris to G5’s Board of Directors, where his practical experience will help G5 in the next stage of growth, as we focus on furthering our success in our core genres and expanding to new ones."
Chris Carvalho says, “G5 is unique in a number of ways, from achieving impressive success through the publishing strategy, which is rare on mobile, to their laser focus on the needs of their core audience and their strategy of sourcing content from Eastern and Central Europe. I am excited to join the board as the company enters their next evolutionary stage."
For further information, please contact:
Vlad Suglobov, CEO, investor@g5e.com
Stefan Wikstrand, CFO, 46 8 411 11 15
About G5 Entertainment AB
G5 Entertainment AB is a developer and publisher of free-to-play mobile games, focusing primarily on the adventure and puzzle genres. G5’s three top games are Hidden City™, Mahjong Journey® and The Secret Society®. The company is listed on the Nasdaq Stockholm main list and has recently announced it has generated over $100 million USD from its Hidden Object and Hidden Object Adventure games. In the most recent quarter, April-June 2016, G5 reported revenue of 104.5 MSEK (approx. $12.2 million USD), up 17% compared to the same period in 2015. For 2015, the company reported revenue of 384 MSEK (approx. $46 million USD), which represents 48% growth compared to 2014. Over 60% of G5’s revenue comes from the US market. The company employs 290 people and has offices in Stockholm, Malta, Moscow, Kaliningrad, Kharkov and San Francisco. For three years in a row, G5 has been named to Deloitte’s Technology Fast 50 – a list of the fastest-growing tech companies in Sweden.