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The maker of the kids’ game site and virtual world Moshi Monsters is now valued at $200 million, after Spark Ventures sold half of its stake for a 15x return of £3.1 million, the VC firm says.
Mind Candy was formed in 2003 by the Firebox.com co-founder Michael Acton Smith. Moshi Monsters, its main product, now numbers 50 million registered users, has deals to sell physical toys at large toy retailers and now publishes a magazine, with books to come.
As recently as September, Spark’s valuation of its own stakes in Mind Candy had put a $35 million total value on the company, based on sales multiple. But now the sale of half of its stock to a third party has given a new number – that which Mind Candy might fetch in acquisition.
Mind Candy has 70 staff