An Interest In:
Web News this Week
- April 18, 2024
- April 17, 2024
- April 16, 2024
- April 15, 2024
- April 14, 2024
- April 13, 2024
- April 12, 2024
Some of Our Sources
- Techcrunch
- Web Designer Wall
- Just Creative
- The Logo Smith
- Smashing Magazine
- Smashing Apps
- Reencoded
- 24 Ways
- Android Dissected
- TechPowerUp
Help Webnuz
Referal links:
May 2, 2012 04:03 am GMT
Japanese gaming giant GREE just acquired mid-core, mobile game developer Funzio for $210 million in what should boost its ability to build games for Western audiences. Funzio is behind Crime City, Modern War and Kingdom Age, which are graphical RPGs that have had good runs on Apple's iOS, Android or Facebook platforms.I had heard a few weeks back that Funzio was in a fundraising process at a $350 million post-money valuation and had also been loosely talking to various buyers in an auction-style process. Apparently, the fundraising efforts helped tip Funzio into a sale, but maybe not at the valuation I had originally heard about. Still, $210 million is not bad at all, considering that the company had raised about $20 million to date from IDG Ventures and Playdom co-founder Rick Thompson. For comparison, Draw Something-maker OMGPOP went to Zynga for $180 million in cash plus an undisclosed earnout.Why did GREE buy Funzio? GREE is a multi-billion dollar mobile gaming company from Japan that is trying to break into Western markets. Its profit margins put Zynga to shame, but the company is running out of room to grow as its home country becomes saturated.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/5axGEV3fcDY/
OMGWHAT? GREE Acquires Mobile-Social Game Developer Funzio For $210M
Japanese gaming giant GREE just acquired mid-core, mobile game developer Funzio for $210 million in what should boost its ability to build games for Western audiences. Funzio is behind Crime City, Modern War and Kingdom Age, which are graphical RPGs that have had good runs on Apple's iOS, Android or Facebook platforms.I had heard a few weeks back that Funzio was in a fundraising process at a $350 million post-money valuation and had also been loosely talking to various buyers in an auction-style process. Apparently, the fundraising efforts helped tip Funzio into a sale, but maybe not at the valuation I had originally heard about. Still, $210 million is not bad at all, considering that the company had raised about $20 million to date from IDG Ventures and Playdom co-founder Rick Thompson. For comparison, Draw Something-maker OMGPOP went to Zynga for $180 million in cash plus an undisclosed earnout.Why did GREE buy Funzio? GREE is a multi-billion dollar mobile gaming company from Japan that is trying to break into Western markets. Its profit margins put Zynga to shame, but the company is running out of room to grow as its home country becomes saturated. Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/5axGEV3fcDY/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch