Close
Report Comment to a Moderator Our Moderators review all comments for abusive and offensive language, and ensure comments are from Verified Users only.
Please report a comment only if you feel it requires our urgent attention.
I understand, report it. Cancel

New $33m investment for Playdom

Tue 22 Jun 2010 8:58am GMT / 4:58am EDT / 1:58am PDT
Business

Social gaming company gets cash boost from Disney's venture capital arm

Social gaming company Playdom has secured a new $33 million round in funding, attracting investment from Disney's Steamboat Ventures division.

As reported by website Tech Crunch, the Disney company generally only makes investments in companies of strategic interest to the parent company, although no announcement has been made of a partnership between the two firms.

Other investors included Bessemer Venture Partners and New World Ventures, whose contributions add to $43 million in investments last year.

Playdom has used the money to make a number of acquisitions over the past year, including game developers Three Melons, Merscom, and free-to-play specialist Acclaim Games.

During this time, the company has also appointed Yahoo and Microsoft veteran David Sobeski as its new chief technical officer.

Playdom operates the largest social gaming network on MySpace and is currently also focused on expansion on Facebook.

Login or register to post

Take part in the GamesIndustry community

Register now