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May 23, 2011 09:58 pm GMT
Social gaming company CrowdStar has had an impressive run of competing with giants like Zynga, EA and Disney with only $100,000 in funding. The company is the fifth largest social gaming app developer on Facebook with 29 million monthly active users. But today, CrowdStar is gathering more financial resources to take on its competitors, raising a whopping $23 million in strategic funding led by Intel Capital, Time Warner Investments with participation from China's The9 and media mogul Aviv Nevo's NVInvestments.CrowdStar, which is best known for producing Facebook social games Happy Aquarium, It Girl, Happy Pets and Mighty Pirates, recently brought on Peter Relan, as its new CEO. Relan is actually the creator of incubator YouWeb (where CrowdStar first received funding), but stepped into the CEO role recently after a number of employees left the startup with its change in strategy. The company is also revealing that it had its largest quarter of revenue in Q1 2011. 
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/y6flXWm-Wn8/
Intel, Time Warner And The9 Make $23M Strategic Investment In Social Gaming Company CrowdStar
Social gaming company CrowdStar has had an impressive run of competing with giants like Zynga, EA and Disney with only $100,000 in funding. The company is the fifth largest social gaming app developer on Facebook with 29 million monthly active users. But today, CrowdStar is gathering more financial resources to take on its competitors, raising a whopping $23 million in strategic funding led by Intel Capital, Time Warner Investments with participation from China's The9 and media mogul Aviv Nevo's NVInvestments.CrowdStar, which is best known for producing Facebook social games Happy Aquarium, It Girl, Happy Pets and Mighty Pirates, recently brought on Peter Relan, as its new CEO. Relan is actually the creator of incubator YouWeb (where CrowdStar first received funding), but stepped into the CEO role recently after a number of employees left the startup with its change in strategy. The company is also revealing that it had its largest quarter of revenue in Q1 2011. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/y6flXWm-Wn8/
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