The First Tuesday meeting returned on 18th February to Callejón de Serrano, in Madrid, dedicated to Javier Polo, CEO of PlayGiga, a leading cloud gaming company and also the first Spanish company acquired by Facebook.
Senior executive with extensive experience in Marketing, Operations and Strategy, Javier Polo reviewed his career in corporations before making the leap to PlayGiga. “I was tired of the corporate world when this opportunity arose. I had never worked in a startup and the company still had no income. However, I had the intuition that it had a lot of potential. Normally when a startup is looking for a CEO it is because: 1. the founding team does not work; or 2. because there is an escalation and the product is too big for the initial partners ”.
“Spain’s great challenge in technology is access to financing. One of the biggest risks for a startup is that you stay halfway in terms of financing. ”
PlayGiga has become the first acquisition of Facebook in Spain, and one of the few in Europe, and it is estimated that the operation has reached 70 million euros. Founded in 2013 in Madrid, this technology company offers a videogame access service through streaming, similar to what is known by companies such as Spotify or Netflix.
With a catalogue that exceeds 300 games, and that includes publishers such as Disney, Sega or Warner Bros, PlayGiga was one of the first companies to enter this sector, focusing its activity on the sale of its services to telecommunications operators with a model of monthly fee.
#FirstTuesday #Madrid | Javier Polo, sobre la venta de @PlayGigaOficial a @Facebook: “Para su proyecto nuestra tecnología era muy potente. Había mucha conexión entre los equipos y compartíamos la visión que teníamos sobre tecnología y el mundo del #gaming, que era muy única”. pic.twitter.com/sI2QtfK2tk
— BStartup (@BStartup) February 18, 2020
“Spain is a paradise for technology because of its great talent in developers, but we need an outward image that generates more confidence.”
Javier Polo stressed that when Facebook decides to invest or buy, they look at everything thoroughly. “One of the great difficulties when looking for partners that we had from PlayGiga was that our vision of the sector was very different. In this sense, the connection with Facebook was very good. I shared that unique vision that we had and shared values, which in a company like yours is key ”.
Watch the entire session thanks to AgoraNews: