SPARK Ventures has sold half of its stake in Mind Candy, the makers of kids pet monster games website moshimonsters.com, for $3.1 million. It values the business at US$200m based on the price paid for SPARK Ventures shares.
Moshimonsters has over 50m registered players worldwide, has successfully launched the sale of physical monster toys in major toy shops and launched the Moshimonsters magazine. Moshimonsters has a significant American and international client base. Mind Candy is headquartered in London and has around 70 staff.
Thomas Teichman, Chairman of SPARK Venture Management Ltd (which manages all SPARK’s assets) and Director of Mind Candy Inc. said ” At start up we backed the brilliantly creative and visionary founder of Mind Candy, Michael Acton Smith, in 2004, and are impressed and delighted by its rapid growth and popularity among children in over 180 countries. Its the second time we have successfully backed the founder in the last 12 years having backed Firebox.com, a successful B to C business, also at start up by Michael in 1999.”