Will Eastcott and David Evans sold their gaming engine startup PlayCanvas to Snap in 2017.
Snap has launched a major social gaming push for Snapchat, as it looks to boost usage of its app.Will Eastcott is a British founder who has been secretly working on Snap Games for the past two years after he sold his game engine startup PlayCanvas to Snap in 2017.
The startup was quietly acquired by Snap for an undisclosed amount. Both firms managed to keep the deal under wraps for a year, but filings spotted by Business Insider revealed that. The price is likely to have been millions rather than hundreds of millions of dollars, multiple sources told Business Insider.
"If you're working for a startup, you're inevitably fighting fires. You're just dancing from one task to another. Then to joining another company where there is a great deal of structure and process and you're having to interact with and coordinate with vast numbers of people. It's a very different experience."Will Eastcott worked on RenderWare, the game engine behind"Grand Theft Auto: San Andreas" and other PS2 games.
"It snowballed from there," Eastcott said."That seed round powered us to profitability. We were signing up some really interesting licensees, like Disney, Viacom, and Polaris." There is a sense that British founders tend to sell out too early, rather than raising more funding and building their businesses into global giants. Examples include AI company DeepMind, which sold to Google, or UK autonomous vehicles startup Blue Vision, which was bought by Lyft.
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