US Facebook turned mobile publisher Funzio is apparently on the funding trail.
The San Francisco company has already raised a not unimpressive $20 million during its Series A round in May 2011.
Now, however, rumours are emerging that it's looking to put together a $50 million B round.
On the basis of $70 million raised, it's suggested that this would value the company at $350 million, although that's an enterprise valuation, not one that necessarily backed by the company's current performance.
Previous investors were IDG Ventures and its Chinese arm IDG Capital Partners, with Playdom co-founder Rich Thompson also chipping in, so this round would look to tempt in new investors. Typically IDG Ventures says it invests between $1 to $5 million per round.
Time to accelerate
As for Funzio's performance, it's not been very active on mobile to-date, releasing Crime City, Kingdom Age and Modern War for iOS. Crime City has also come to Android.
Nevertheless, Crime City has been in the US top grossing charts for 246 days, peaking at #2. Modern War is current in the top 10, also peaking at #2.
Still, with the likes of Zynga, GREE, DeNA and Kabam - which has raised $125 million - spending very heavily on user acquisition, not to mention plenty of smaller outfits such as Storm8, Glu, and Machine Zone - which just raised $8 million - a big war chest is now a necessity to play in this space.
[source: VentureBeat]
News
Contributing Editor
A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.
Related Articles
as
News
Feb 17th, 2014
GREE sees FY14 Q2 sales down 7% to $310 million, but international sales rise to $72 million
Top Stories
Feature
May 20th, 2024
Hot Five: AppLovin revenue surges 48% Y/Y, Plarium and Big Fish up for sale, and a look inside Merge Mansion's growth
Feature
May 20th, 2024
55 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Events
Digital Dragons | Europe | May 19th |
GamesBeat Summit 2024 | North America | May 20th |
Mobidictum Meetup Tallinn May 2024 | Europe | May 21st |
Nordic Game Spring 2024 | Nordic | May 21st |
Impact 2024 - Indie Games | May 23rd | |
MomoCon 2024 | North America | May 24th |
Morocco Gaming Expo | Africa | May 24th |
For The Win 2024 | Europe | May 29th |