St. Louis Inno is publishing profiles of its 2024 Startups to Watch this week. See the entire list of honorees below.
PLAYBITE
Headquarters: Clayton
CEO: Diego Kafie
What it does: Playbite has created a mobile app that includes more than 40 “fun and simple” games and is designed to be a mobile arcade. Its app includes both single and multiplayer games, with users able to win prizes, similar to an arcade. Playbite is free for consumers. The company said it generates revenue from advertisements on its platform, in-app purchases and a subscription program.
The latest: Playbite, which formally launched in May 2022, has grown its user base to include several hundred thousand monthly active users. It raised $1 million in October in a funding round led by Silicon Valley-based venture capital firm Grishin Robotics.
Why you should watch it: Playbite wants to be a centralized place for mobile games. It likens its operating model as being similar to what YouTube is for video content and movies, and Spotify for music and podcasts. It wants to be an app that not only houses a library of games, but also allows users to be creators themselves. Playbite has focused on expanding its technology to allow users to create on the platform, launching their own games, with the ability to generate revenue from their games. The company said it has recently launched its first game from a creator.
What’s next: Playbite said it plans to continue to put a focus on adding users, retaining players on its platform and growing revenue. It said that will include adding more games to its app, including titles created from users. Playbite has put a focus on using organic marketing efforts, with a focus on content creation, to attract users to its platform, as opposed to spending dollars on paid marketing.
More about Playbite
Year founded: 2022
Founders: Diego Kafie, CEO; Stu Feldt, chief technology officer, platform; George Faraj, chief technology officer, games; Nic Weber, chief product officer
Employees: 6
Capital raised: $1.7 million
Investors: Grishin Robotics, M25, Tundra Ventures, Capitalize VC, Everywhere VC, 500 Startups, Goodwater Capital
