Springtide, MCI exit Geewa

Geewa's founder and shareholder, Milos Enderle, also sold his remaining 6% stake in the business. Elderle will remain the head of the company. Geewa will continue to be a separate game studio under the Applovin ownership, according to Czechcrunch.

The transaction is estimated to be valued at more than CZK 100m, according to Czechcrunch.

Springtide and MCI had not responded to a request for comment at the time of publication.

Previous funding
In 2007, MCI provided €1.15m of capital to back Geewa. Subsequently, KKCG invested in the company, injecting CZK 82m via its venture capital arm Springtide in 2014.

Company
Established in 2005, Geewa is a developer and publisher of competitive multiplayer mobile games. Its mobile game Smashing Four is played by 200,000 players a day, with monthly sales reaching $1m in 2018, according to Lupa.

People
Geewa – Milos Enderle (founder).
KKCG – Michal Tománek (investment director).
Applovin – Adam Foroughi (CEO).

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