The gaming company Google bets on isn’t Zynga

25-Aug-2013

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The gaming company Google bets on isn’t Zynga

Source: Kabam
The gaming company Google is betting on: It isn’t Zynga
Google Ventures has upped its bet on private gaming company Kabam , and mobile strategy is a big part of the wager.
Being early into mobile is seen as big advantage for Kabam. Zynga (ZNGA) has made a move to mobile of late, but Kabam has been going mobile for two years already. It now offers all seven of its own titles along with some from third-party developers on Android and iOS.
Google Ventures was among a small group of investors in a $38.5 million secondary equity deal completed last month that allowed Kabam employees to cash out. The names of the investors were released this week.
(Read more: Crowdfund this: Medical Devices )
Google Ventures general partner Joseph Kraus explained his bet this week in an interview with The Wall Street Journal, saying that “Kabam has successfully made the transition to mobile at a time when many previously Facebook (FB)-oriented gaming companies haven’t.”
The other investors in the Kabam employee share deal were Founders Circle Capital, Pinnacle Ventures and Canaan Partners.

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