NetEntertainment, now known as NetEnt, was founded in 1996. The Gaming Intelligence website published an article in which Pontus Lindwall talks about how it all began. For NetEnt, he did not envision the grandiose prospects that the company has reached today.
My idea was to create a company for 10-15 people that could provide me with income. It was hard to imagine big dreams at a time when few people used the Internet.
I was a bit modest in my ambitions. I strongly believed in this from a technical point of view, but it was difficult to imagine how big this market would turn out to be.
His father was in the casino business and was one of the founders of Cherry. At that time, the company was engaged in restaurants at gambling establishments. Pontus Lindwall says that his father's only advice was not to get involved in the gaming industry because it is under too much political control. However, he supported his son when he created NetEnt and provided funding.
On NetEnt's funding account, Pontus says it has been backed by a close circle of familiar investors over the years. He notes that unlike those who leave at the first difficulty, they always stay with him.
When companies are in trouble or going through hard times, it's very good to have shareholders who support you and don't leave you alone. They stay with you and understand the business, and that's why they don't leave and support both morally and financially.
It was good for us. As a company, they have been a great asset to us. Another capital that appears in passing, institutional capital, it all disappears as the wind changes direction.
Link to Yggdrasil
In 2005, NetEntetrainment was part of a group of companies that included Cherry-backed Betsson and Cherry itself. The result was such a family, which was named after Betsson in connection with the huge success of this brand. Then it was decided to split up. Subsequently, Cherry became the owners of Yggdrasil before it also split off. Yggdrasil was founded by former head of account management at NetEnt, Frederik Elmqvist.
Link to Evolution
Evolution's undertakings are also connected with NetEnt, which today have grown so much that they are preparing to buy out NetEnt. According to Gaming Intelligence, Evolution was called Live Gamble in 2001, and after the collapse of .com, its founders Jens von Bahr and Fredrik Osterberg were forced to look for stable jobs. Therefore, they got a job at NetEntertainment in the sales department, and returned to their project two years later. Here is what Pontus Lindwall says about them:
They had an incredible journey that I don't think anyone else has. They had an entrepreneurial spirit long before they came to work with me.
NetEnt can generally be considered a talent factory. Natives of this company are often the founders or leaders of other developers and operators.
