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    Ivan Kim

    Research Analyst at Xtellus Capital Partners

    Ivan Kim is an Executive Director and Head of TMT Equity Research at Xtellus Capital Partners, specializing in telecom, media, and technology company analysis across the EMEA region. He has covered a range of prominent firms including those in the gaming sector such as Hero Wars' publisher, and has led an analytical team responsible for critical sector insights and investment recommendations. Kim has held the head of TMT research position at Xtellus Capital Partners for eight years, building on prior investment management experience, and is recognized for deep sector expertise, although specific performance rankings and quantitative metrics are not publicly disclosed. He holds senior research credentials and has worked in regulated environments including AllianceBernstein and under UK and European financial regulations.

    Ivan Kim's questions to GDEV (GDEV) leadership

    Ivan Kim's questions to GDEV (GDEV) leadership • Q3 2021

    Question

    Ivan Kim from Xtellus Capital Partners inquired about the slower U.S. bookings growth for Hero Wars, the status of the company's entry into the Chinese market, the comparative payback periods of web versus mobile platforms, and the efficiency of marketing on iOS following the IDFA changes.

    Answer

    CBDO Anton Reinhold and CEO Andrey Fadeev addressed the questions. Fadeev explained that slower U.S. growth was due to a strategic focus on faster-growing Asian markets and that the U.S. is not yet saturated. Reinhold stated they are in the final stages of signing with a Chinese partner. Fadeev noted that web platforms have longer payback periods due to higher CPIs and higher lifetime value. Reinhold confirmed that post-IDFA marketing efficiency met expectations, with healthy cohort performance.

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