DoubleDown Interactive co-founders depart
Greg Enell and Cooper DuBois leave two years after selling the social casino product to IGT for up to $500m
DoubleDown Interactive co-founders Greg Enell and Cooper Dubois have left the social gaming company two years after selling it to International Gaming Technology for up to $500m.
Enell and Dubois originally founded the development studio in Seattle in 2010 before launching the DoubleDown Casino in April that year.
The business quickly grew a huge player base on Facebook and since acquiring DoubleDown in January 2012, IGT has recorded significant growth in revenues from the product.
Since Q3 2011 DoubleDown’s MAU has more than doubled, and its ARPDAU has increased from $0.24 to $0.42 recorded in Q4 2013.
Their exits were revealed just after IGT announced DoubleDown revenues had grown 57% year-on-year for the quarter ended 31 December to $64.8m.
The news follows the departure of IGT’s head of interactive Robert Melendres, who officially left his role on 1 January to be replaced by current IGT CFO John Vandemore.
In a research note Adam Krejcik, managing director of boutique research firm Eilers Research, said that it was not a surprise that Enell and DuBois had left the company at this time.
“It’s our understanding that neither co-founder was much involved in any of the day-to-day operations and rather served in more of a strategic and mentorship role,” he said.
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