Inside a Public Gaming Studio: Why We Skipped VC to Build a Listed Serial Acquirer | Søren Gleie, CEO of Trophy Games

Søren Gleie is the co-founder and CEO of Trophy Games, a publicly listed Danish game developer and serial acquirer on Nasdaq First North Growth Market. Starting the company over two decades ago from a rural student apartment by coding browser-based football management prototypes, Søren deliberately bypassed traditional venture capital. Instead of chasing ephemeral 10x three-year VC targets, he engineered a disciplined compounding engine that generated 30% to 40% annualized revenue growth, sustained profitability, and survived decades of platform shifts from desktop web to mobile. In this conversation, Søren dissects the operational realities of taking Trophy Games public at the absolute peak of the Nordic IPO bubble in spring 2021 - and how pricing conservatively at 5x sales rather than peer multiples of 10x allowed the company to survive the subsequent market contraction and 5x enterprise value over the following years. Søren also delivers a stark warning on European competitiveness, explaining how incoming EU regulations like the Digital Fairness Act risk driving digital businesses overseas, why Trophy Games resists migrating from First North to the regulated Main Market, and how retail investors were successfully mobilized into long-term community ambassadors. Presented by ⁠⁠Listed⁠⁠ Powered by ⁠⁠Reverion Capital⁠⁠ Søren Gleie Trophy Games: https://trophy-games.com/ LinkedIn: https://www.linkedin.com/in/gleie/