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Glu Mobile's (NASDAQ: GLUU ) decision to spend $45.5 million in cash on little-known US game developer Crowdstar in November 2016 took the industry by surprise. An overfunded startup from the early days of free-to-play gaming on Facebook and then mobile devices, Crowdstar raised $49 million in four rounds but didn't have its first hit game Covet Fashion - The Game for Dresses & Shopping until 2014. In fact, it's not really a game.

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It's more an interesting combination of online shopping and dressing up digital avatars for fellow players to vote on. Yet, that deep niche and a focus on doing deals with real-world brands (Calvin Klein, Sephora, French Connection) has seen Covet Fashion build a strong, mainly female, audience. Figures from its website cite 600,000 daily active users or players (DAUs) and 3 million monthly active players. More significantly, the game has been in the top 100 top grossing charts for the Apple App Store and Google Play store in key English-speaking markets such as the US, Canada, Australia and the UK (all countries that rank in the global top 10 most lucrative mobile markets) since mid-2014. Source: App Annie (free registration required) For that reason, we can assume the majority of Crowdstar's revenue has been generated by Covet Fashion. In its FY16 Q3 Investor Presentation (as shown below), Glu noted Covet Fashion's revenue had grown each year over the past three, with the company's 2016's bookings expected to be $48 million. Yet the company, which consists of 88 staff, is still loss-making. Its 2016 EBITDA loss is expected to be $1 million.

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The Election Commission confirmed that he had the support of 4,716 of the party's 5,731 delegates. "Losing control of the bicycle at such a late stage

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of the campaigning process would have put both factions on the back foot," the executive editor of India Today Television, Javed Ansari, told the BBC. Why are symbols so important? The importance that party symbols play in Indian politics cannot be overstated. In a country where swathes of the population remain illiterate, symbols act as visual aides and are often the only link between candidates and the voting population, particularly in rural areas. This is especially true in Uttar Pradesh, where more than 30% of the state's 200 million population remain illiterate, according to the 2011 national census. Therefore, political parties invest a lot of time and money on popularising their party symbols. Poll pundits have said that the election is too close to call, and even a minor setback could mean the difference between winning and losing. Losing the bicycle symbol at this stage may well have erased any advantage the party would have gained from the disruption caused to voter's lives by the Indian government's decision to ban 500 and 1,000 rupee notes as a measure to curb corruption. Image copyright AFP Image caption Election symbols act as visual aides for voters, particularly those who cannot read Given that Uttar Pradesh has the largest number of political representatives, a win in the state is seen as crucial to all the main players involved.