Storms

Storms, a Singapore-based gaming company, was established in March 2020 as a strategic joint venture by a trio of major telecommunications operators: Singtel (Singapore), AIS (Thailand), and SK Telecom (South Korea). This collaboration was backed by an initial investment of US$22.5 million, with each telco holding a significant minority share, a structure intended to grant the startup operational autonomy. The company was brought to life to publish and develop mobile games, with a specific focus on the hyper-casual and casual gaming sectors.

Leading the venture as CEO is David Yin, a former Google Play executive with a background in telecommunications at companies like Nokia and Vodafone, and experience in building the Android apps and games pipeline in Southeast Asia. His expertise was pivotal in steering Storms, especially after his initial hesitation to join, which was overcome by the promise of operational freedom from the founding telcos. The management team was also composed of experienced individuals from prominent tech companies like Lazada and Amanotes.

The company's business model is multifaceted. It operates as a publisher for indie gaming studios, primarily in Southeast Asia and India, helping them license and launch titles. One of its notable successes includes the partnership with Voodoo to publish "AZ Run," which garnered 9.6 million downloads. Beyond publishing, Storms provides gaming advisory services, allowing small studios and advertisers to leverage the extensive telecommunications network of its parent companies. A third business line involves the development of an HTML5 gaming platform, offering over 100 free-to-play games, including well-known titles like "Fruit Ninja" and "Jetpack Joyride". The company also provides B2B gaming solutions for super-apps and digital companies to aid in user acquisition and retention, and is exploring Web3 initiatives, including NFTs and blockchain-based loyalty programs.

Financially, Storms demonstrated significant growth, with revenues surging 14-fold to approximately SGD 4.1 million in the fiscal year ending December 31, 2021. In February 2022, Australian mobile games company iCandy Interactive acquired a 51% majority stake in Storms for $8 million, a move aimed at advancing the combined entity's capabilities in the Metaverse and Web 3.0 gaming spaces. Following the acquisition, Storms continues to operate its own brand and retain its team, while its management joined iCandy's leadership to scale its services across the partner telco networks.

Keywords: mobile game publisher, hyper-casual games, casual games, game development, Southeast Asia gaming, indie game studio, David Yin, Singtel, AIS, SK Telecom, iCandy Interactive, game advisory, HTML5 games, Web3 gaming, user acquisition, game monetization, mobile game licensing, telco gaming JV, Voodoo, AZ Run