News

Google Ventures part of the group that reinvested in Kabam

Light shed on recent $38.5M placement

Google Ventures part of the group that reinvested in Kabam
Back in July, Kabam insiders sold shares worth $38.5 million to several undisclosed VC companies.

What was hidden is now revealed, however, with Google Ventures being one of those funders.

The others were Founders Circle Capital, Pinnacle Ventures and Canaan Partners.

Mind the gap

To some degree, this is not news.

Canaan Partners was Kabam's original investor, with Google Ventures and Pinnacle Ventures both part of Kabam's $85 million Series D round.

However, the reason provided by Google Ventures for its involvement is notable.

"Kabam has successfully made the transition to mobile at a time when many previously Facebook-oriented gaming companies haven't," its general partner Joseph Kraus, told The Wall Street Journal.

[source: CNBC]

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.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies