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
Feature
May 17th, 2024
New release roundup: The best new mobile games from a battle royale to a console classic remake
Feature
May 16th, 2024
Behind the scenes: How adding sandwich offers to an idle merge game boosted three metrics at once
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 | |
Morocco Gaming Expo | Africa | May 24th |
MomoCon 2024 | North America | May 24th |
Unreal Fest Gold Coast 2024 | Australasia | May 29th |
Popular Stories
Feature
May 14th, 2024
53 top mobile games in soft launch: Squad Busters, Battle Guys: Royale, Plants vs. Zombies 3, LEGO Hill Climb Adventures, and more
Feature
May 13th, 2024
Hot Five: Dubai's new Gaming Visa, April's mobile game charts, and Xbox studio closures
Interview
May 13th, 2024