Papaya

Company Overview

Snapshot

Founded in March 2016 by Oriel Bachar, Andrey Birman, and Alex Liakhovetsky, Papaya operates with 201–500 employees. The company has raised $3.5M across 4 funding rounds from 5 investors. In August 2026, Papaya Gaming secured U.S. bankruptcy protection following a significant legal judgment, aiming to preserve operations amidst financial challenges.

Business overview

Papaya is a mobile gaming company specializing in developing innovative versions of popular games, transforming them into skill-based, real-money tournaments. The company's core technology leverages mobile platforms and blockchain for user engagement, monetization, and customer retention. Papaya serves the mobile gaming industry, targeting consumers and gamers within the Media & Entertainment Technologies sector.

Strategic signal

In August 2026, Papaya Gaming obtained U.S. bankruptcy protection, a critical move following a New York jury's decision to award $719 million to competitor Skillz due to misleading advertising related to bot usage in games. This development signals a significant operational and financial restructuring for Papaya, as it navigates substantial legal liabilities and seeks to establish a viable path forward through a supervised payment arrangement.

Company Intelligence Q&A

What was the outcome of the lawsuit with Skillz?

In July 2026, a New York federal court ordered Papaya Gaming to pay Skillz $719 million, following an April 2026 jury decision that found Papaya liable for damages related to misleading advertising and the use of bots in skill-based games. Papaya stated it was deeply disappointed and plans to appeal the ruling.

What is Papaya's current financial situation regarding the legal judgment?

In August 2026, Papaya Gaming won U.S. bankruptcy protection. The company has $151 million in cash to cover $754 million in liabilities and has been given 45 days to draft a realistic settlement plan, as a judge found its initial seven-year repayment strategy inadequate.

Has Papaya undergone any recent organizational changes?

In July 2026, Papaya cut 30 employees as part of a restructuring effort within the Israeli gaming company, following the significant legal judgment against it.

What are Papaya's market expansion plans?

In September 2024, Papaya's Head of Marketing, Uri Pearl, discussed the company's plans to expand into the UK market, highlighting how it differs from the U.S. market where Papaya is currently active.

What is Papaya's strategy regarding its brand name?

In June 2023, Papaya announced an investment of hundreds of thousands of dollars to drop the word "gaming" from its name, indicating a strategic rebranding effort.