Machine Zone valued at $3 billion - report
Game of War developer about to close new round of funding, on course for $600m annual revenue
The U.S. mobile developer Machine Zone is currently raising funding that will value the company at more than $3 billion.
Machine Zone isn't yet a household name, but its present success is largely down to its latest game, the ambitious free-to-play MMO Game of War: Fire Age, which launched last year. The Wall Street Journal reports that the company is projecting $600 million in revenue for 2014, according to sources with knowledge of the business.
The sources have claimed that Machine Zone is now in "advanced talks" with JP Morgan Chase & Co. to raise funding at a valuation north of $3 billion. The company has declined to comment on the report.
Game of War is currently the third highest grossing app on the iOS App Store, trailing King's Candy Crush Saga and Supercell's Clash of Clans, and in the top ten on the Android store. The game's unique selling-point is an integrated language translator, which allows players in different regions to interact with each other and play together.
Machine Zone was founded in 2008 as Addmired, with an early focus on dating apps. Over time, the company shifted its focus to social strategy games for mobile, eventually changing its name to Machine Zone when it took its lifetime funding to $13 million in March 2012.