Playdom looking for investment for expansion

Social gaming competition hots up further

Playdom looking for investment for expansion
GamesBeat's Dean Takahashi reckons startup social gaming company Playdom is on the hunt for more investment.

According to his sources, the company - which is behind such games as Mobsters on MySpace, Facebook and iPhone - is after an injection of double digit millions of dollars.

Depending on the equity split involved, the deal would value it at more than $100 million and perhaps as much as $200 million.

It's thought Playdom has revenues of around $50 million, and around 30 million active monthly users. It recently opened a second development studio in San Francisco and has over 100 members of staff.

The competition in the social game space is fierce with the likes of Zynga and Playfish engaged in a battle of mindshare.

No doubt, any investment would be used to speed up the development and quality of new games, both on MySpace, Facebook and platforms such as iPhone.

[source: GamesBeat]

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