Meta, Facebook’s parent company has invested $40 million in Tokyo-based mobile gaming company, Playco.
The investment allows Playco to expand its user base and adds to Meta’s New Product Experiences division.
Playco is aiming to build a game that more than 1 billion people can play.
In September 2020, Playco completed a $100 million Series A funding round valuing the company at more than $1 billion. The round was led by Sequoia Capital and venture capitalist Josh Buckley.
Meta generated $33.7 billion in revenue in Q4 2021, a 20% increase compared to the same period the year prior. The company’s Reality Labs segment, which includes its VR and AR products, posted $877 million in revenue in Q4 — its best quarterly revenue in FY2021.
Despite the results, the segment reported an operating loss of $3.3 billion during the quarter.
