Justplay

Company History and Founding

JustPlay was founded in 2020 in Berlin, Germany, by Carl Livie, Gil Mincberg, and Mirko Aquaro, all former employees of AppLovin. The founders aimed to create a rewarding mobile gaming experience that combines casual play with real-world incentives. From the start, the company avoided external venture funding, instead growing organically through reinvestment of revenue.

Business Model and How They Make Money

JustPlay's business model is primarily ad-supported. Players earn 'loyalty coins' by playing games, completing levels, or hitting milestones, and can redeem these for PayPal cash, gift cards, or charity donations. The ad revenue generated from in-game advertisements funds the reward payouts, creating a sustainable, self-funding loop. The company also develops its own portfolio of casual games (puzzles, card games, arcade titles) to ensure a controlled user experience and maximize engagement.

Core Products and Platforms

The flagship product is the JustPlay app, available on iOS and Android, which hosts over 35 games and has been downloaded more than 25 million times. Underlying the app is the JustPlay Engine, a proprietary adtech and rewards platform that manages user acquisition, monetization, and reward distribution. The app also includes a donation feature where users can give earned rewards to charitable causes, with the company matching donations as part of its social impact efforts.

Market Position and Scale

JustPlay operates in 25+ countries and attracts over 500,000 daily active users. It reported $172.8 million in revenue and $19.1 million in operating profit for 2025. The company projected Q1 2026 revenue of $65.2 million and operating profit of $7.5 million, with full-year 2026 forecasts of $325 million in revenue and $40 million in operating profit, reflecting rapid scaling. The US and Canada contribute approximately 70% of revenue.

Acquisition by NCSOFT

In March 2026, NCSOFT, a South Korean developer known for Lineage and Guild Wars 2, announced it would acquire a 70% stake in JustPlay for about $202 million (KRW 301.6 billion). The implied equity value of JustPlay is approximately $289 million. The remaining 30% is subject to call and put options tied to future performance. The deal is expected to close by the end of April 2026. NCSOFT's rationale includes diversifying its portfolio into casual gaming and leveraging JustPlay's adtech and rewards platform to offset declining revenues from legacy MMORPGs.

Team and Culture

JustPlay operates as a privately held GmbH under German law, headquartered in Berlin. The company employs between 51 and 200 people, as per its LinkedIn page. Key leadership includes co-founder Gil Mincberg, who serves as Chief Product Officer and Chief Strategy Officer. Carl Livie is widely reported as CEO in acquisition coverage, though a direct source confirming his role was not available in the provided research notes; therefore he is not listed in the people section of this profile. Mirko Aquaro, another co-founder, holds a role not explicitly confirmed as C-level in the available sources.