Start-Up Game Developer Riot Games, Inc. Announces the Close of its First Round of $1.5MM Equity Funding
FOR IMMEDIATE RELEASE
Los Angeles, CA - December 18, 2006 - Riot Games, Inc. - an independent Los Angeles based video game development company - today announced the completion of its first round of independent equity funding, totaling $1.5 million.
Headquartered in West Los Angeles, California, Riot Games, Inc. is comprised of highly successful creative executives and developers with a wealth of business management and game development experience. With backgrounds from such companies as Electronic Arts, Sony, Microsoft, Sega, Atari, Konami, Activision, Midway, and an assortment of development studios, the core Riot team is assembled and is diligently working on a cutting-edge game platform and a title that combines the best elements of the action role-playing and real-time strategy genres into a uniquely fun and competitive multiplayer experience. The company plans to announce the title in early 2007.
Brandon Beck, a former Bain & Company strategy consultant who specializes in media and entertainment, has been named Chief Executive Officer. Mr. Beck, who has also held venture capital and banking positions, brings a highly strategic perspective to the new venture.
"Tremendous opportunities continue to emerge in the games industry as distribution and business models continue to evolve," commented Mr. Beck. "Riot is focused on building content that can capitalize on the opportunities afforded by the platform transition and the changing dynamics of the marketplace."
Marc Merrill, the former Manager of Corporate Marketing at Advanstar Communications, Inc., the fourth largest business-to-business media company in the US, has been named President and Chief Marketing Officer of Riot Games.
"Our team is made up of successful and respected industry veterans who all share a passionate vision of our company's potential," said Mr. Merrill. "Riot is committed to delivering innovative products of the highest quality that focus on gameplay and replayability in order to build deep, ongoing relationships with gamer communities."
William Petro, the Chief Technology Officer and Executive Producer, brings a wealth of game development experience to the company, having produced over 50 games across all major video game platforms during his 20+ year career including building the $45 million Backyard Sports series for Atari. Mr. Petro also served as the senior vice president of production at Sega, where he oversaw more than 20 games ranging from small pick-up titles to multi-million dollar projects for next-generation video game systems, such as Xbox 360 and PlayStation3. Additionally, Mr.Petro has also held management positions at Konami Digital Entertainment was a lead programmer for Westwood Studios on Command & Conquer Red Alert. His background also includes 7 years of developing software applications for corporations and the United States Government.
"With our proven development methodologies, independent status and highly experienced team, we believe we are well positioned to push the envelope in a variety of areas," said Mr. Petro.
About Riot Games, Inc.
Riot Games, Inc. ( www.riotgames.com) is an independently funded, Los Angeles based video game development company that was established in 2006 to develop innovative online next-generation titles for consoles and the PC. Comprised of industry veterans with a shared passion for creating fun, innovative gameplay, the company is currently developing a cutting-edge game platform and their first title that combines the best elements of the action role-playing and real-time strategy genres into a uniquely fun and competitive multiplayer experience. The company plans to announce the title in early 2007.
Marc Merrill
Chief Marketing Officer
Riot Games, Inc
(310) 734-6779
mmerrill@riotgames.com