Glu Brand Celebrates 10 Years of Mobile Gaming Excellence

Company looks to a future of continued growth and industry leadership

SAN FRANCISCO--(BUSINESS WIRE)-- Glu Mobile Inc. (NASDAQ: GLUU), a leading global developer and publisher of free-to-play games for smartphone and tablet devices, celebrates the 10-year anniversary of the company’s brand. After acquiring European studio and technology provider, Macrospace, Ltd. in December 2004, on May 31, 2005, U.S. developer and publisher, Sorrent Inc., rebranded to become Glu Mobile Inc. A decade later, Glu has evolved its business model, product portfolio, and global footprint to become one of the most innovative mobile gaming companies in the industry. In that time, Glu has more than tripled its headcount, increased non-GAAP revenue from $25.7 million for the year ended December 31, 2005, to $241.8 million for the year ended December 31, 2014, and expanded into six game genres.

“I’d like to congratulate Glu’s over 700 employees worldwide for a remarkable 10 years of growth and pioneering innovation,” said Niccolo de Masi, Glu Chairman and CEO. “We have an impressive track record of industry firsts over the past decade and have grown revenue by nearly 10x in the period.” De Masi continued, “Over the next five years, Glu aims to grow revenue 20%-30% per annum and reach $1 billion of non-GAAP revenue in 2020.”

Notable Glu Mobile Milestones

• 2005 – Shark Hunt MP launches as a cross-platform multiplayer game
• 2006 – Brain Genius launches as one of the first titles to utilize a phone’s camera in-game
• 2007 – Glu Mobile listed on NASDAQ as GLUU
• 2008 – Space Monkey launches on the first day of the iTunes App Store
• 2009 – Glyder launches with critically acclaimed motion controls
• 2010 – Gun Bros launches as the first free-to-play social action mobile game with Facebook friends list integration
• 2011 – Various Glu games launch as some of the first to support IAPs on the Android Market
• 2012 – Glu became the first to launch games on Google Play with subscription-based IAPs
• 2013 – Glu launches Spellista, the first game for Google Glass
• 2014 – Kim Kardashian: Hollywood became one of the first top-10 grossing games to have a five-star average rating

In 2014, Glu launched its celebrity gaming platform, taking the industry by storm with the tremendous success of Kim Kardashian: Hollywood. Over the past year, Glu has announced additional mobile gaming partnerships with Katy Perry, Kendall and Kylie Jenner, and Britney Spears. Now supported by over 400 million total social followers*, Glu intends to leverage an audience largely untapped by the gaming industry.

Over the next five years, Glu aims to: grow revenue 20%-30% per annum, reach $1 billion of non-GAAP revenue in 2020, and have all quarters Q315 onward be Adjusted EBITDA profitable.

* Based on the combined Facebook, Twitter, Instagram, Vevo, and Vine audience of Kim Kardashian West, Katy Perry, Kendall and Kylie Jenner, and Britney Spears as of June 2, 2015. There is some fan overlap among these social channels and celebrities.

Cautions Regarding Forward-Looking Statements

This press release contains certain “forward-looking statements” related to the business of Glu Mobile Inc., including statements that: Glu aims to grow revenue 20%-30% per annum and reach $1 billion of non-GAAP revenue in 2020; Glu intends to leverage an audience largely untapped by the gaming industry; and Glu aims to have all quarters Q315 onward be Adjusted EBITDA profitable. Such forward-looking statements involve known and unknown risks and uncertainties, including, but not limited to, the risk that consumer demand for smartphones, tablets and next-generation platforms does not grow as significantly as we anticipate or that we will be unable to capitalize on any such growth; the risk that we do not realize a sufficient return on our investment with respect to our efforts to develop free-to-play games for smartphones, tablets and next-generation platforms; the risk that we will not be able to maintain our good relationships with Apple and Google; the risk that our recently and newly launched games are less popular than anticipated or decline in popularity and monetization rate more quickly than we anticipate; the risk that our newly released games will be of a quality less than desired by reviewers and consumers; the risk that the mobile games market, particularly with respect to free-to-play gaming, is smaller than anticipated; the risk that we may lose a key intellectual property license; the risk of product delays and other risks detailed under the caption “Risk Factors” in our Form 10-Q filed with the Securities and Exchange Commission on May 11, 2015, and our other SEC filings. You can locate these reports through our website at http://www.glu.com/investors. We are under no obligation, and expressly disclaim any obligation, to update or alter our forward-looking statements whether as a result of new information, future events or otherwise.

About Glu Mobile

Glu Mobile (NASDAQ: GLUU) is a leading global developer and publisher of free-to-play games for smartphone and tablet devices. Glu is focused on creating compelling original IP games such as BLOOD & GLORY: IMMORTALS, CONTRACT KILLER, DEER HUNTER, DINER DASH, DINO HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO, RACING RIVALS, and TAP SPORTS BASEBALL, and branded IP games including KIM KARDASHIAN: HOLLYWOOD, ROBOCOP: THE OFFICIAL GAME, and HERCULES: THE OFFICIAL GAME, on the App Store, Google Play, Amazon Appstore, Facebook, Mac App Store, and Windows Phone. Glu’s unique technology platform enables its titles to be accessible to a broad audience of consumers globally. Founded in 2001, Glu is headquartered in San Francisco with major U.S. offices outside Seattle and in Long Beach, and international locations in Canada, China, India, Japan, Korea, and Russia. Consumers can find high-quality entertainment wherever they see the ‘g’ character logo or at www.glu.com. For live updates, please follow Glu via Twitter at www.twitter.com/glumobile or become a Glu fan at www.facebook.com/glumobile.

BLOOD & GLORY: IMMORTALS, CONTRACT KILLER, DEER HUNTER, DINER DASH, DINO HUNTER: DEADLY SHORES, ETERNITY WARRIORS, FRONTLINE COMMANDO, RACING RIVALS, TAP SPORTS BASEBALL, GLU, GLU MOBILE and the 'g' character logo are trademarks of Glu Mobile Inc. or its subsidiaries.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150602005653/en/

Jason Enriquez
Glu Mobile Inc.
[email protected]
(415) 800-6263

Source: Glu Mobile Inc.

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