Current years within the gaming business have been awash with upheaval, disruption and tumult, from numerous sport closures to employees layoffs and even studio shutterings. The latter has struck Double Loop Video games this time, 4 years on from founding and earlier than its first sport may even see full launch.
The US-based, women-led cell video games studio was shaped by Emily Greer and Shelby Moledina, CEO and COO respectively, earlier than the pandemic. The corporate has “struggled” on since, however with the fashionable gaming panorama’s “hostile funding and advertising setting”, in the end Double Loop’s finish has come.
Market challenges
As an ex-Kongregate CEO, Greer introduced Double Loop’s founding in early 2020 with the aim of constructing enjoyable video games for cell gamers who don’t take into account themselves hardcore players. A $2.5 million seed spherical had already been accomplished by then, with investments from large names like Supercell and Unity supporting Double Loop’s first sport.
This debut title, later confirmed to be a hybrid puzzle and social sport, noticed additional funding from Hiro Capital, Garena and Riot Video games in 2021, with a accomplished Collection A spherical elevating one other $8 million.
Based on Double Loop’s web site this sport is at the moment in delicate launch, though it goes unnamed. And now with the studio closing, it seems like a delicate launch is so far as it should go.
“We’re very unhappy to announce that Double Loop Video games is shutting down after 4 nice years. Shelby Moledina and I are so happy with the crew, tradition, and video games we’ve inbuilt that point. Sadly, like many different small studios in 2023, we struggled to interrupt by means of in a really hostile funding and advertising setting, notably for cell video games,” Greer posted on LinkedIn.
“We wish to thank all of the crew members, buyers, enterprise companions, buddies, and household who labored with us, believed in us, and supported us by means of this journey. It’s been an exquisite expertise due to all of you, and we wouldn’t have missed it for the world.”
Luckily not all employees shall be out of labor on account of the closure, as Double Loop acquired an invite from Monopoly Go maker Scopely in November 2023 to onboard most crew members to “a brand new venture” throughout the informal GSN studio.
As for Greer and Moledina, they plan to take “some prolonged day off” earlier than diving into their subsequent initiatives.
