Mobile games maker Jam City Inc. has promoted co-founder, Chief Operating Officer and President Josh Yguado to chief executive.
Yguado is replacing co-founder Chris DeWolfe, who is leaving along with co-founder and Chief Technology Officer Aber Whitcomb, to start a new social platform called Plai Labs.
In addition, Chairman SeungWon Lee, who also is president of global HQ at Netmarble Corp., has been named executive chairman of Jam City. South Korea-based Netmarble, parent company of Kabam, is a major shareholder of Jam City.
Culver City, California-based Jam City said Yguado has been integral to the company’s growth, overseeing a number of its core operating functions, including studio management, marketing, product management, corporate development, mergers and acquisition efforts, and intellectual property title negotiations. As CEO, he will focus on creating long-term growth opportunities for Jam City's mobile games and launching a slate of titles in 2023 and 2024, including “DC Heroes & Villains."
“I have so much belief in Jam City and am honored to be asked to step into the CEO role,” Yguado said in a statement. “It has been such a pleasure building this company over the past 10 years with Chris and Aber into one of the world’s leading mobile game publishers.”
In late 2021, Jam City formed a new blockchain division anchored by its first project, “Champions Ascension.” DeWolfe and Whitcomb are taking this division and the “Champions Ascension” franchise and launching Plai Labs.
Prior to founding Jam City, DeWolfe co-founded and was CEO of social media network MySpace. Whitcomb was the company’s co-founder and CTO.
“We’re starting Plai Labs because we’re on the precipice of the next major evolution of the social web, and we have a clear vision around how to leverage new technologies like AI and blockchain to play a leading role in shaping this exciting space,” DeWolfe said. “While it’s bittersweet to leave Jam City, we’re confident in launching this venture because of the company’s strong market position and growth prospects.”
Jam City said it has raised more than $650 million to date and employs more than 900 people in 10 studios in five countries. In addition to its popular "Cookie Jam" and "Panda Pop" franchises, the company has partnered with companies such Universal, Disney and Warner Bros. Games. The company’s top-selling games include “Harry Potter: Hogwarts Mystery” and “Jurassic World Alive.”
