Kabam valued at $700 million after secondary financing

After a huge 2012, Kabam is primed to make a big splash in coming months. According reports, the social gaming giant is now valued at $700 million after a private sale of $38.5 million in common stock. The company also reported that it reached $180 in revenues in 2012, up 70 percent year to year.

This secondary offering is said to be done for the benefit of Kabam employees. Typically, private companies use an IPO for employees and investors to sell their shares.

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