Mmm, the numbers seem to not be real, though. Where that $11M come from, I dont know. But in the forum they say it is the value of the Epic deal. And I argued it is more reasonable to think on $500k max. according to SG reported sales and revenue. But there is no way of knowing, these figures are not public.
The strange thing about PP, is that has been no doubt a wild success for investors. 190% profit early 2019, is really wild. But who these investors are and how much they can decide what SG is unknown. But likely much less profitable for SG.
This is kind of the key point here, cause I think you are totally right. Though I would guess in Bulgaria the salaries are not as high for the devs as in other places. I find a SG salary reported in Glass door. And let me tell you:
3D Environment Artist salaries at Snapshot Games can range from лв26,383-лв28,948
This is is in Bulgarian Lev currency. Which means €14,474 a year. Which is insultingly low, even for Europe.
Because I overlook stuff, and out of curiosity I searched for salaries for game and software developers in Bulgaria. These should be much higher, right?. And the numbers I found are €1.125/month for Game Designer and €1.500/month for software developers.
For the ones out there from the US, which expect $100k for sofware designers. Game developers usually get paid much lower even in the US, and in Europe only in a handful of countries senior engineers get paid above €50k a year. For example the max salary I received when I was working as senior PhD computer vision and artificial intelligence specialist in the private industry in Spain, my salary was just below those $50k after taxes.
All in all I have no Idea how much keeping alive a 30 people team in Bulgaria would need. And even if that is the number of PP employees now. They started being 9, and they hired more people during developement. 30 is a number I have seen used in many places.
In Europe salaries need to cover medical expenses and other stuff, and when managing projects. 120-130% of the salary represents the actual cost of the salary for the company in management, according to the type of company. Bulgaria?, we dont know, the same way we dont know if the salary figures are before or after other taxes.
All in all, keeping alive SG, with a permanent staff of 30 and an average salary cost of €25k/year. Would be €700k/year only in salaries. Thought salaries are pretty much 80-90% of the cost of a software company. I would say, a reasonable number would be around the €1M/y to keep SG running.
Sources:
https://www.glassdoor.com/
Of course Im aware there is a lot of speculation in these numbers, in the same manner there is a lot of speculation when I estimated the epic deal on anything below $500k. So take it as just what it is, a somewhat informed speculative assumption.