Growing Up With University Games: 20 Years and Still Playing

By Patrick Arippol, R. Ellis, Joshua Spitzer
2006 | Case No. E210
The University Games case chronicles the board game company’s early formation and growth, and culminates in two issues often faced by business owners: (a) what to do about the over-dependence that the company has developed with its founder/CEO, and (b) what are the possible exit options worth pursuing. The case describes University Games’ founding by two friends after graduating, its internal and market-facing growing pains, periods in which each of the two founders left the company, a buy-back of shares from a VC investor, and culminates in the emergence of exit opportunities. The narrative concludes with the CEO questioning whether he should court a financial investor or strategic acquirer, or even consider the options of a public offering and of a leveraged re-capitalization for the company.
This material is available for download by current Stanford GSB students, faculty, and staff, as well as Stanford GSB alumni. For inquires, contact the Case Writing Office. Download