Around the Net

Kabam! Social Gamer Raises $30 Mil

Social gaming startup Kabam has raised $30 million in a third round of funding to develop new games, and maybe make a few acquisitions. "Kabam makes massively multiplayer strategy games for hardcore gamers who play on Facebook," VentureBeat explains. Presently, Kabam has about 7.4 million monthly active users on Facebook.

"That's not huge compared to Zynga's 299 million users, but it's a big number considering the fact that most people believe hardcore audiences don't exist on Facebook," according to VentureBeat. Redwood City, Calif.-based Kabam acquired WonderHill in October. Investors include Redpoint Ventures and Intel Capital, which tells VentureBeat that "social gaming is still hot as a start-up investment, even though many of its biggest winners, such as Zynga, are consolidating their hold on the market." Also, in about a year, the company has grown its workforce exponentially from 20 employees to about 250, with studios in San Francisco, China, and Germany in addition to Redwood City.

Read the whole story at VentureBeat »

Next story loading loading..