166: How to Build a Billion Dollar Mobile Gaming Company From Scratch, with Holly Liu of Kabam

Ask yourself, just how many hours have you sunk into that palm-sized rectangle of plastic, metal, and glass known as the smartphone? As the co-founder of Kabam, one of the world's leading companies in mobile games, Holly Liu might be able to provide an answer to that, and it would likely be a huge number. But luckily for us, and our listeners, she's far more interested in talking about how she managed to build a billion-dollar company from scratch by giving away her products for free. If you don't know Kabam already, you've probably heard of the company's hugely popular games, such as Kingdoms of Camelot, The Godfather, and Marvel's Contest of Champions, just to name a few. Each one operates on a "freemium" model, where users can download and play games for free. This might sound crazy, but it's actually a ludicrously lucrative business model, with Kabam making the bulk of their revenue through in-game currency and advertising revenue. Kingdoms of Camelot alone has, to date, grossed over $250 million. The secret behind Liu's success is simple, she just asks herself: "Where are the people?" That question led to Kabam's successful pivot into building a Facebook game and tapping into the power of viral marketing, to even partnering with the major studios in Hollywood to build games for upcoming movies and franchises. For Liu, there's so much more to surviving in the mobile gaming industry than building a successful product, especially when great products exist on almost every corner. It takes an equal amount of dedication to marketing, finding the right partnerships, and, as always, understanding where your customers are. In this episode you'll learn: What opportunities lie within the mobile gaming industry How to take your business where the customers are How to pivot when your first, second, and even third ideas fail What goes into making a product as viral as possible Why you should look to grow your company through the power of partnerships How to make being social your competitive advantage & so much more!