Alex Mochi, the creator of indie hit Rise of Business, launched a video earlier this week claiming he obtained simply $5,000 from Kalypso Media for the IP. However Kasedo Video games, the writer’s digital sub-label and the writer of Rise of Business 2, instructed GamesIndustry.biz the video incorporates “a number of inaccuracies.”
In a video posted to YouTube on August 13, 2025, Mochi supplied a deep dive into the financial and private challenges he believes led to his studio, Dapper Penguin Studios, promoting the Rise of Business IP to the Tropico writer in 2022.
“Our game made €4 million, it topped the Steam charts, universities taught economics with it, and three years later, I was broke, hospitalised, and promoting my life’s work for $5,000,” Mochi mentioned within the video.
“Rise of Business was my defining second: my greatest success, and my greatest failure multi functional,” he continued.
After beginning work on Rise of Business in 2015, with the assistance of “a pair of good guys from Reddit,” Mochi mentioned the game “blew up” on itch.io, turning into the most purchased paid game published on the platform in 2017.
After making it by way of the (now defunct) Steam Greenlight system and hitting early entry, “gross sales had been wonderful” and Discord was “booming,” Mochi mentioned, with Rise of Business promoting over 350,000 copies and grossing slightly below €4 million throughout all platforms.
“For some time, it felt like we cracked the code,” mentioned Mochi. “However the momentum hides issues, and what I couldn’t see is how briskly revenue disappears.”
Within the video, Mochi broke down how that revenue rapidly grew to become “nothing.” He defined that Steam took 30%, so it was “gone instantly,” whereas the remainder dwindled as a consequence of refunds (which, he mentioned, is 10-15% for indies), regional pricing, and grey market resellers.
“However the true ache [is] a foul writer deal,” he added.
“The momentum hides issues, and what I couldn’t see is how briskly revenue disappears”Alex Mochi
In line with Mochi, throughout Rise of Business’s pre-alpha, the crew related with Kalypso Media, who provided the studio a publishing deal.
“The deal appeared truthful on paper: $75,000 prematurely, with a 50/50 cut up till they recuperate $100,000, after which they shift to 60/40 for us,” Mochi defined. “For a brand new crew, truthful seems like a win.”
Kasedo Video games instructed GamesIndustry.biz that is correct, however needed to stress that “this was a licensing settlement through which the developer dedicated to safe all improvement funding and requested for a small advance.”
After signing the settlement, shortly after Rise of Business’s full launch in 2019, Mochi mentioned Kalypso Media “shifted” the studio to its digital sub-label, Kasedo Video games.
In consequence, Mochi claims “help evaporated,” and the crew discovered the game had “fewer sources, much less advertising, and a vanishing attain.”
“I began suspecting: had Rise already served its objective for them?,” defined Mochi. “In hindsight, it was fairly apparent. Rise was worthwhile. They recouped and people earnings had been funneled in the direction of different tasks, just like the very profitable Warhammer 40,000 Mechanicus.”
Kasedo Video games disputes these claims. The writer denies there was a “shift” from one entity to a different.
“The preliminary deal was signed by Kalypso Media Group (to be printed below the Kasedo Video games model label) below the administration of Kalypso Media Digital – which was later renamed to Kasedo Video games Ltd in December 2019,” a Kasedo Video games spokesperson instructed us.
“The fulfilment and day-to-day administration of the publishing deal was by the identical crew, slightly below a special identify – which was defined clearly to Mochi on the time.”
The writer additionally denies that earnings went into Warhammer 40,000: Mechanicus, claiming that the game was “effectively into improvement and had already gained recognition with media and the gaming neighborhood in its personal proper across the time that Rise of Business launched into Early Entry.”
Mochi goes on to assert that, “by the point issues slowed down,” Kasedo Video games had earned round $1.2 million from the game, whereas the event crew earned roughly $1.5 million.
The developer then went on to elucidate that, after wages, software program, servers, {hardware}, and taxes, they had been left with “just about nothing.”
By 2020, Dapper Penguin Studios was already €100,000 within the crimson; by 2021, this determine was €140,000.
Kasedo Video games disputes the figures Mochi supplied in his video. Firstly, the writer claims the game could have made “roughly” €4 million in income throughout all platforms, however “this included gross sales tax, gross sales platform income share,” and was earlier than any deductions from refunds.
By Kasedo Video games’ math, that €4 million in income, minus 10% returns, is €3.24 million. Minus an additional 10% tax (the common based mostly on worldwide areas), and Steam’s 30% income share, leaves €2.27 million.
The writer then went on to elucidate that, based mostly on that calculation (and “taking Mochi’s personal income share determine as being right”), Dapper Penguin Studios’ 60% share of €2.27 million can be €1.36 million ($1.59 million), whereas Kasedo Video games’ 40% can be €900,000 ($1 million).
“Within the video, Mochi talked about the overheads and prices he incurred,” the spokesperson continued. “That is additionally the case for Kasedo Video games.
“The income share was used to pay again the advance royalties, cowl all prices for localisation into eight languages, full QA, product administration, video and asset creation, PR, advertising, influencer protection, reveals, occasions, industrial distribution, gross sales, and promotions, all of which resulted in glorious consciousness and alternatives.”
Mochi went on to elucidate that momentum for Rise of Business dropped off, so he tried to “maintain it along with duct tape and 80 hours per week.”
“I was actually naive”Alex Mochi
Whereas the studio hoped patches would assist, “it by no means stabilised,” and Mochi’s well being and private life had been closely impacted – he even confronted shedding his dwelling.
“One selection remained: promoting the IP, which meant the code, the DLC, the model, the dream, gone, for $5,000 again to the writer who made over $1 million, and all with out an added clause on that shit contract, which had no recourse.”
“I was actually naive,” Mochi mentioned.
In line with Kasedo Video games, that $5,000 determine is “deceptive” as Mochi didn’t initially reveal within the video that he additionally obtained $45,000 from superior gross sales. The developer did make clear this within the video’s feedback, nevertheless.
“The compensation was ten occasions this determine in a deal which additionally included superior royalties that he would have earned from subsequent years based mostly on the gross sales projections on the time,” Kasedo Video games instructed us. “To be clear, this was practically 4 years after [Rise of Industry’s] preliminary launch.”
“Mochi initiated the dialog concerning the sale of the Rise of Business IP on a quantity of events,” Kasedo Video games continued. “Within the first occasion, we declined, as shopping for the IP wasn’t one thing we had been occupied with. Solely after additional approaches did we even think about it.”
Earlier this yr, Kasedo Video games launched Rise of Business 2, with a console model as a consequence of launch subsequent month.
Mochi claims that he tried to be concerned within the sequel, however “Kasedo’s provide was absurd,” and included no income share, minimal inventive enter, and “laughable pay.”
Once more, Kasedo Video games claims “that is inaccurate.”
“Mochi did attain out shortly earlier than the announcement to ask to be concerned, and this was mentioned intimately,” the writer instructed us.
“Mochi provided particular ‘testing packages’ in a session capability for a selected degree of remuneration (set at his most popular hourly charge). After session with the event crew, a suggestion of involvement for a interval of ten months was mentioned with him, based mostly on his requested hourly charge.
“Kasedo’s provide was absurd”Alex Mochi
“Mochi then declined the provide, stating that it didn’t meet his monetary wants and that his schedule was already full.”
Kasedo Video games went on to assert that Mochi has “since pitched a game to Kasedo Video games” and was “on the lookout for a writer deal as lately as January 2024.”
The writer additionally instructed us that, in March 2024, “former Rise of Business crew members who’re now not related to Mochi pitched a game to Kasedo Video games for consideration of a writer deal.”
“I do not remorse making Rise of Business”, Mochi mentioned within the video. “I remorse how I ran it. It’s a supply of immeasurable pleasure and ache.”
“The toughest half wasn’t transport the game, it was surviving every thing round it: all of the contracts, the crushing timelines, and the unsettling silence when issues go fallacious,” he continued.
In a remark following the video’s publication, Mochi clarified that he doesn’t need to “level fingers or drag anybody by way of the mud.”
“Kalypso/Kasedo performed an element in how issues turned out, sure, however so did my very own misjudgments, poor planning, and unrealistic expectations,” he wrote. “All these elements are precisely the purpose of this submit.
“I needed to point out them as a result of they had been an vital half of the story and gave it context. With out their help, Rise of Business very presumably may’ve remained a small game on itch.io, and I would by no means have had the prospect to showcase it at locations like Gamescom, so I am grateful.
“Additionally, I don’t imagine publishers are inherently evil! I nonetheless work with some to at the present time, and I assume most do their jobs effectively, dealing with issues builders shouldn’t have to fret about. Publishing is extra than simply contacting content material creators or making press kits! When/if I ever get the chance to steer one other game of my very own, I would undoubtedly search a writer once more.
“I’ve moved on from the occasions themselves, so this video isn’t about stirring up drama! It’s about sharing what went fallacious on my aspect, so different devs can hopefully be taught from it.”
Following the discharge of his video, Mochi will host an AMA on Reddit on August 15, 2025.