Sandbox Global Co, a Bangkok-based online and mobile game developer, has set an ambitious goal to secure US$1.5 billion (49.8 billion baht) in revenue within two years of becoming a digital service and entertainment provider.
The company plans to launch its first augmented reality (AR) game in December.
"We want to diversify from the mobile game business to extensive digital services and entertainment, similar to China's Tencent platform," said Thomas Zilliacus, chairman of Sandbox Global Co and former Asia-Pacific head of Nokia.
Mr Zilliacus, who is also founder of Mobile Future Works, which acquired Sandbox Global in mid-2014, said Sandbox is no longer a mobile studio. It will build a platform to provide more services and a variety of entertainment to users.
The company has incorporated e-commerce, social networking, streaming video, chat and payments into its Sandbox Play, a social platform that will unite all Sandbox games and brings users a "gamified" experience where they can connect to a like-minded community. The platform is accessible through browsers and mobile apps.
Sandbox Play will attract gamers and leverage more revenue sources by offering customers e-commerce options such as game devices and accessories, as well as streaming video content.
"We can expand from one revenue stream as a game developer to several including advertising, subscription bases, licensed stickers and so forth," said Mr Zilliacus.
He said the gaming business generates profit while e-commerce provides higher revenue per users. According to eMarketer, average e-commerce revenue per user in Asia-Pacific is $1,214.
Mr Zilliacus said Sandbox wants to raise up to $7.5 million in Series A funding in 2018 for marketing, brand building and business expansion.
Sandbox Global Co head of studio Zac Alcampo said by this December, it will launch AR Unstoppable Rex, its first AR game on Apple's iOS.
Gamers can buy food and weapons for Rex the dinosaur, in a game that is described as a combination of Tamagotchi and Pokemon Go.
Over the past few months, Sandbox Play has introduced several new mobile games -- Honey Snatch, a casual puzzle adventure, Infinity Warriors, an action game, and Unstoppable Rex. The three games have around 500,000 users between them. The game has marketing support from Apple, Google, Line, IAH and YuuZoo. Through partnership and investor networking Sandbox Play has access to 66 million gamers globally.
Mr Alcampo said each Sandbox game will be linked to a social network in "Sandbox Play", where gamers can meet and chat. These social networks are monetised through advertisements and are linked to electronic and mobile commerce and video streaming, where additional revenue is generated through commerce margins, subscriptions and advertising.
Four new games are planned to be launched in the fourth quarter.
"Thailand has talent and creative developers, and we hope to build a successful global firm here," said Mr Alcampo.
Mr Zilliacus said the company aims to generate $1.5 billion in global revenue within 15-20 months. It plans to list on the Nasdaq with a $5 billion valuation.
For 2016-2017, revenues are relatively low as Sandbox has been set up as a cost centre, into which Mr Zilliacus invested a substantial sum to develop the technology and games.
"However, with the traction we have now, as well as growth we are seeing, everything is still within target. Garena went from 0 to $1.5 billion in 15 months just in this region. Sandbox is projected to hit $2 billion in over 24 months, globally," he said.
The company has on its board Peter Vesterbacka, former chief marketing officer of Rovio, the developer of Angry Birds, the world's most downloaded Freemium mobile game.
Sandbox has also been granted a five-year tax exemption from the Board of Investment.