+46%

est. 2Y upside i

Series A

Rank

#1435

Sector

Mobile Gaming

Est. Liquidity

~5Y

Data Quality

Data: Low

BIT ODD is a high-risk, pre-revenue mobile gaming bet with a compelling founding pedigree but brutal competitive dynamics and no commercial proof points.

Last updated: May 4, 2026

Bull (10%)+400%

Field Day achieves breakout global success (10M+ MAU, $80-120M annual IAP revenue by 2029), rivaling Brawl Stars' early trajectory. BIT ODD is acquired by a major publisher (EA, Take-Two, or Tencent) or reaches a $400-600M valuation, delivering ~400% upside on common equity after the $23.5M preference stack.

Base (50%)+75%

Field Day achieves solid but not breakout performance ($15-30M annual IAP revenue in select markets), company raises a Series B at a modest up-round, and exits via acquisition at $120-180M within 5-7 years. After the $23.5M preference overhang, common stockholders see ~75% upside from current grant-date valuation.

Bear (40%)-80%

Field Day fails to scale beyond soft-launch markets — a likely outcome given sub-5% hit rates in mobile gaming — forcing a pivot or down-round that severely dilutes common equity. With $23.5M in senior preferences outstanding against limited asset value, employee equity is written down by ~80% or more.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

3360%

Total funding of $23.5M against an estimated $70M valuation equals a 33.6% funding intensity ratio — classified as severe — meaning preferred shareholders must recover $23.5M before common stockholders (employees) receive any value in a liquidation or modest exit.

Dilution Risk

high

BIT ODD will require at least one additional Series B raise (likely $20-40M) to fund Field Day to profitability or exit, which will dilute the current equity pool by an estimated 20-30% before any liquidity event.

Secondary Liquidity

none

No secondary market exists for BIT ODD equity; as a small pre-revenue Finnish gaming studio, no platforms (Forge, Nasdaq Private Market) are likely to support trading until a significant growth milestone is reached.

View all 16 open roles at BIT ODD →

Last updated: February 22, 2026

Questions to Ask at the Interview

Strategic questions based on BIT ODD's data — designed to show you've done your homework.

  • 1

    “What are Field Day's D1, D7, and D30 retention metrics from the Canadian soft launch, and how do they compare to benchmarks for top-quartile mobile action games like Brawl Stars at equivalent stage?”

  • 2

    “What is the monetization architecture — cosmetics IAP, battle pass, season model, or ad-supported — and what ARPU and LTV are you targeting to justify the CAC in competitive mobile markets?”

  • 3

    “What is the Series A liquidation preference structure (participating vs. non-participating, any ratchets), and at what post-money valuation were options being granted to recent hires?”

Community

Valuation Sentiment

Our model estimates +46% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.