The Makers Of Fruit Ninja Sold Their Studio To Snapchat For $500,006

The previously unnamed studio working with Snapchat on their new gaming platform seems likely to be Australian, with Snapchat's parent company investing over $500,000 to acquire ownership of the studio founded by the creators of Fruit Ninja.

A report from Kotaku Australia alumni Jackson Ryan and Mark Serrels at CNET has revealed that Kathryn Carter, the general manager of Snapchat's Australian operations, has taken over as the director of Prettygreat's studios.

Documents lodged with ASIC also reveal that founders Luke Muscat and Philip Larsen, who are credited with making Fruit Ninja, sold their shares in the company to Snap. The ASIC filing notes that Snap paid $500,000 for two preference shares, and $6 for the remaining ordinary shares.

Image: ASIC

Another filing with the corporate regulator also shows that Muscat, Larsen and Hugh Walters have ceased to be officeholders of Prettygreat, which was founded a few years ago after the trio left Halfbrick studios. To date, Prettygreat has released a few mobile games including Slide the Shakes, Land Sliders and Crash Club.

The change in company ownership was filed to ASIC in early January. Neither company has commented publicly on CNET's report, and Prettygreat did not reply to queries from Kotaku Australia at the time of writing. A representative for Snap Australia also declined to comment post-publication.


Comments

    So.... they can just go create a new studio now? These guys seem to have been super successful with what they do. Good on em.

    ...notes that Snap paid $500,000 for two preference shares, and $6 for the remaining ordinary shares.This seems like such a weird proportion. It's like buying an expensive car and then saying, "What the heck, I may as well spoil myself and buy an air freshener while I'm here."

    I'm kind of curious what the impetus behind this is though. Are they buying them out because those games are super popular or was the studio floundering and needed a bail out?

      The six ordinary shares were probably effectively worthless (no voting rights, maybe no dividends, maybe no dilution protection, etc). Presumably Snap wanted 100% control and offered a token amount to finalise the transaction.

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