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Kabam Employees, Investors Raise $40 Million in Secondary Sale

Mobile gaming company Kabam, which raised $120 million at a $1 billion valuation earlier this year, said its shareholders have sold off $40 million in a secondary offering. Last year Kabam’s employees and early investors raised $38.5 million via a secondary sale that valued the company at $700 million.

This article originally appeared on Recode.net.