Social games company Kabam valued at $700M

Newsbrief: As a small group of investors moves in to launch a secondary offering for common stock for social games company Kabam, the company says it is now valued at $700 million. Kabam had a great 2012, thanks to its mobile game focus, making more than $180 million in gross revenue -- up 70 percent compared to the previous year. And Kabam's CEO Kevin Chou said that the company is currently beating its 2013 fiscal targets, thanks to successes such as the recently-released Fast and Furious 6 for mobile.