Before 2016, Niantic was a small startup at Google with little name recognition and a modestly successful game called Ingress. That all changed when Niantic teamed up with The Pokémon Company to create Pokémon GO, catapulting the company to unparalleled success in the mobile space.
It's been over two years since then, and Pokémon GO is still one of the most profitable mobile games in the world. As such, Niantic's value has reached impressive new heights. According to The Wall Street Journal, Niantic has begun the process of raising another $200 million in investments from venture capitalists, driving the company's market cap to a staggering $3.9 billion.
So how does that compare to other companies? As pointed out by Kantan Games CEO and analyst Dr. Serkan Toto, this puts Niantic above prominent third-party publishers like Capcom ($2.08 billion), Square Enix ($3.327 billion), and Sega ($3.8 billion), despite the fact that they have much richer libraries stretching back for decades. For a young mobile developer, that's a pretty incredible statistic.