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After 12 years in business and several strategic pivots, British unicorn Improbable has achieved profitability for the first time. Improbable credited the milestone to yet another business shift. After numerous attempts to create virtual worlds, the company has reinvented itself as a venture builder. “Venture building has proven to be the optimal model for both Improbable and the metaverse, as experimenting with various use cases is key to achieving adoption,” said Herman Narula, Improbable’s founder and CEO. A new financial report substantiates his claim. In 2023, Improbable’s revenues increased by 37% to reach £66mn. With a total profit of £11…
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Originally appeared here:
UK unicorn Improbable finally makes profit after pivot to venture building
