Playdom Provides Fellow Social Gamer MetroGames With $5 Million Funding
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Social gaming startup Playdom is putting this past fall’s $43 million funding round to quick work lately. The San Francisco company is investing $5 million in Argentina-based social gamer MetroGames as part of the South American company’s first round. The investment comes a barely two weeks after Playdom acquired Offbeat Creations, the developer of several Facebook-based titles, including dice game Super Farkle.
When it got its $43 million first round in November, Playdom said it intended to use the proceeds for acquisitions and to expand its own gaming platform. For its part, MetroGames will use the new money to build up its own pipeline of games—it currently has 30 games available on Facebook—and ramp up development of its social gaming platform. The Buenos Aires company didn’t say whether it was seeking additional investors as part of this first round.
SEE ALSO: Playdom Buys ‘Super Farkle’ Developer Offbeat Creations
Playdom and MetroGames also expect to work together on various projects, but neither one offered details on what areas. The deal not only increases Playdom’s own reach across Facebook, but the geographical expansion into Latin America is designed to help it keep up with rivals like Playfish, which was acquired by Electronic Arts (NSDQ: ERTS) last fall. Release
Posted In: Entertainment, Games, Money, M&A & Venture Capital, Venture Capital, Social Media, Countries, Latin America
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