Major League Gaming Gets $7.5 Million In Funding
Professional gaming league Major League Gaming (MLG) has picked up $7.5 million in funding from Oak Investment Partners. The company is calling it a follow-on to the $25 million second round it raised back in late 2006. All told, MLG (SEO: 066570) has raised $42.5 million, the majority of which came from Oak, but also from first round backer Ritchie Capital.
SEE ALSO: Major League Gaming Gets $25 Million Funding
And the company has spent it well, acquiring online console tournament site GameBattles.com in 2006, and buying out GotFrag, a competitive gaming news site and social net, a year later. MLG has also outlasted its U.S. competitors in the space, including the DirecTV (NYSE: DTV) backed Championship Gaming Series (CGS), which folded last year, though there are a number of international leagues (like Korean-backed World Cyber Games) that host televised game tournaments.
Posted In: Entertainment, Games, Money, M&A & Venture Capital, Venture Capital, Companies, major league gaming, oak investment partners
iTunes Apps (Paid)
Social Standing
Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?
Show Me: