Reworks

Reworks Oy is a Helsinki-based mobile game development studio founded in the summer of 2018 by a team of experienced creators including Ilkka Teppo (CEO) and Aaro Väänänen. The founding team honed their expertise over seven years at Sumoing, where they developed the successful coloring game Recolor, which amassed over 35 million downloads. This background in creating engaging, creative applications provided a strong foundation for their new venture.

The company's flagship and inaugural title is Redecor, a mobile game that merges social gaming with lifestyle content centered on home design. Launched globally in April 2020 after a 16-month soft-launch period, Redecor quickly gained traction, particularly within the female demographic. The game operates in the growing design entertainment market, targeting millions of home decor enthusiasts. Its business model is centered on a free-to-play structure with in-app purchases and a 'Season Pass' subscription that unlocks additional rewards, exclusive items, and more design challenges. Within 18 months of its launch, Redecor became the second-highest-grossing design entertainment app based on in-app purchase revenue.

Redecor allows players to step into the role of an interior designer, taking on daily life-like design challenges where they select materials and styles for various rooms. A distinctive feature is its social validation mechanism, where players' designs are voted on by the community, adding a competitive and engaging element. The game is built on Reworks' proprietary REPLAY 3D Engine and Content Platform, which enables the creation of photo-realistic quality graphics and the rapid production of daily content to keep the experience fresh.

The studio's rapid success attracted significant investor attention. After securing a $1.5 million pre-seed round in March 2019 and a $4.3 million Series A round in April 2020 led by EQT Ventures, Reworks demonstrated its substantial growth potential. This culminated in a major acquisition in September 2021 by mobile gaming giant Playtika (NASDAQ: PLTK). Playtika acquired 80% of Reworks for $400 million in cash, with an agreement to purchase the remaining 20% for up to an additional $200 million, contingent on performance metrics. The acquisition was expected to add approximately $30 million to Playtika's revenue in 2021 and leverage Playtika's expertise in live-ops and data analytics to further scale the game.

Keywords: Reworks, Redecor, mobile gaming, home design game, interior design, free-to-play, in-app purchases, design entertainment, Playtika, Ilkka Teppo, Aaro Väänänen, Helsinki startup, game development, social gaming, 3D customization, creative apps, virtual decoration, player community, Season Pass, mobile entertainment