Archive notice: This article was originally published on May 15, 2008. Links and embedded videos are preserved as part of the historical record.
Ignacio Cavero, CEO of LemonQuest, commented on the strategic step: “The United States is a rapidly growing market and will soon catch up with Europe in mobile games. With LemonQuest Inc., we are positioning ourselves in the United States as a provider of leading technology from Spain.”
The development of LemonQuest
2006: Official company founding
Investment company DEBAEQUE invests €3 million in LemonQuest, which is launched with the Entertainment and Mobile Marketing business units. By the end of the financial year, LemonQuest generates revenue of €540,000, mainly from mobile marketing. The company has 23 employees.
2007: Start of international expansion in India and China
In June 2007, LemonQuest established a development laboratory in Beijing for 2D and 3D applications and assembled a local sales team. The company completed its value chain there by acquiring a Chinese sales-services provider in October. With an office in India, LemonQuest entered another market of the future in November.
LemonQuest also received the Best Adapted Licensed Game award for Furby Island at the International Mobile Gaming Awards. The company now had 96 employees and increased its equity to €1.6 million by year-end. Revenue also rose to €945,000. The mobile-gaming business unit generated its first income.
2008: New US office
With revenue of €503,000 in the first quarter of 2008, LemonQuest increased growth by 145 percent compared with the same period the previous year. The company also established subsidiary LemonQuest Inc. in China, India and the United States. Red Herring listed LemonQuest among Europe’s top 100 technology companies.
