Simpson Thacher represented Silver Lake in connection with its role as the lead investor in a $150 million Series C financing round in Genies, Inc. (“Genies”). The investment brings Genies’ total valuation to $1 billion. Genies plans to use the funds to accelerate Genies’ product development in the core technology of Genies’ avatar universe and drive expansion.
Genies is one of the world’s largest avatar technology companies, allowing users to create their own avatar ecosystems (including avatars, fashion and collectibles, spaces and venues, and social experiences). Through the Genies platform, users can create and mint as NFTs, digital goods for their avatar, which are valuable NFTs within the ecosystem.
The Simpson Thacher team included Atif Azher and Mark Myott (M&A); Lori Lesser, Bobbie Burrows and Mark Natividad (Intellectual Property and Data Privacy); Tristan Brown, Harry Hudesman and Ryan Kenny (ECEB); David Blass, Adam Cohen and Daniel Levien (Financial Regulation); Russell Light (Tax); Sara Razi and Kelly Karapetyan (Antitrust); and Mick Tuesley and Claire DiMario (CFIUS).