Mobile publisher CrowdStar has raised $11.5 million in a recent round of funding following the news that the company will shift its efforts entirely into mobile.
The money came from existing investors including Time Warner, Intel Capital, YouWeb, The9, and NV Investments, bringing the company's total to $35 million.
The shift in focus will see CrowdStar ditching Facebook in favour of mobile games, citing the platform's faster growth, lower user acquisition and production costs over the social network.
"Mobile is the much bigger opportunity," said CrowdStar CEO Peter Relan.
"The purpose of this round is to double down on mobile."
Shifting perspectives
Relan hinted the firm's expansion into new territories suggesting that expanding CrowdStar's efforts to China could see its mobile audience double, adding that news of the company's international plans would surface "shortly."
In April, CrowdStar confirmed its plans to halt development of new games for Facebook and shift 90 percent of their operations onto mobile games.
CrowdStar will continue to support its existing Facebook titles but plans to downsize those teams in the transition.
[source: VentureBeat]
News
Fresh out of the packaging, Tom joins Pocket Gamer with a chip on his shoulder and a degree in Journalism. Naively, Tom believes there's a star-studded career in video games and has penned words across the internet in between praying to the almighty Nintendo gods.
Related Articles
Data & Research
Jan 10th, 2017
Is Glu Mobile’s $45 million Crowdstar acquisition already paying off?
News
Nov 4th, 2016
Glu Mobile appoints new CEO and acquires control of Covet: Fashion dev Crowdstar for $45 million
Interview
Dec 29th, 2015
2015 in Review: Covet Fashion's GM Blair Ethington on focusing on real brands and real people, not UA
Top Stories
News
9 hours, 34 minutes ago
Week in Views - Squads busted, Apple crushed, War zoned and Snoozin' with the Snorlax…
News
9 hours, 34 minutes ago
Week in Views - Squads busted, Apple crushed, War zoned and Snoozin' with the Snorlax…
Feature
10 hours, 46 minutes ago
Speaker Spotlight: Dubai Future Foundation's Faisal Kazim on leading Dubai's gaming charge
Events
Esports Future Summit | Middle East | Apr 27th |
Dubai GameExpo Summit 2024 | Middle East | May 1st |
The MENA Games Industry Awards 2024 | Middle East | May 2nd |
GameDev Atlantic 2024 | May 4th | |
Mobidictum Meetup Berlin May 2024 | Europe | May 7th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Israel Mobile Summit 2024 | Middle East | Jun 6th |
DevGAMM Vilnius 2024 | Europe | Jun 14th |
Popular Stories
News
Apr 23rd, 2024
Supercell’s Squad Busters soft launches today with over 100,000 Google Play downloads
Feature
Apr 24th, 2024