Facebook games dev 6 Waves raises $17.5m
Company expands into publishing, distribution and monetisation services
Social games developer 6 Waves has raised $17.5 million and intends to expand into publishing, distribution and monetisation services.
The Hong Kong firm, which creates a number of Facebook games and applications, raised the funding from Insight Venture Partners. According to Inside Facebook, the company has over 44 million active monthly users and more than 140 applications
"We started publishing for Chinese developers," said co-founder Rex Ng. "But we have since diversified to work with developers from all over the world. To date, we have partnered with many developers from US, Canada, France, China, Hong Kong, and Singapore, with more in the pipeline. Since our audience spans across North America, Europe and Asia, 6 Waves provide a one-stop shop for developers to reach a global audience."
Social games companies are raising significant amounts of funding, with Zynga netting $15 million new investment late last year, and Playdom, which counts former EA exec John Pleasants as CEO, secured $43 million.
Electronic Arts acquired Playfish last year in a bid to move into the growing social gaming space, but there were warnings yesterday that traditional games publishers looking to move into the market must be prepared to adopt new business and creative practices if they hope to succeed.