Giant Squid was co-founded by Nava and film and television production company The Ink Factory. Grammy-nominated Journey composer Austin Wintory and thatgamecompany's lead designer, Nicholas Clark, have also joined Nava. According to the company website, Giant Squid plans "to create innovative and deeply moving games that will inspire players, challenge convention and push the boundaries of experiential and narrative interactive entertainment into new and unexpected areas."
Giant Squid is already "hard at work" on its first project, which Wintory will provide the music for. According to the website's job page, the company is still seeking a studio manager, tools and gameplay engineer, lead engineer and gameplay engineer to work in its Santa Monica office.