// startup autopsy
Loki Studios
The world was your dungeon — until Yahoo needed the dungeon masters.
marketfitAcqui-hire
Fatal mistake: Built a location-based mobile RPG that required critical user density to function engagingly, but lacked the capital and distribution to achieve that density before funding ran out.
Key Events Timeline
FOUNDING
Loki Studios founded in the USA, beginning development of Gemsbok, a location-based mobile RPG.
FUNDING
Raised $670K in seed funding to develop and launch the Gemsbok location-based gaming platform.
PRODUCT LAUNCH
Gemsbok launched publicly, blending real-world exploration with RPG mechanics; struggled to achieve user density in most locations.
ACQUISITION ATTEMPT
Yahoo approached Loki Studios for an acqui-hire, recognizing the team's mobile and location-based technology expertise.
SHUTDOWN
Loki Studios was acqui-hired by Yahoo; Gemsbok shut down as the team was absorbed into Yahoo's mobile division.