Yobongo Raises 1.35 Million

MARCH 24, 2011 • Yobongo Inc. is a new studio based in San Francisco that just released an iPhone app by the same name. The app enables users to chat randomly with others in the same geographic area that have Yobongo installed. Following the launch, Yobongo raised $1.35 million from True.....

News Corp. Likes Making Fun

FEB. 26, 2011 • After many starts and stops over the years, Rupert Murdoch is returning to the video game business. His News Corp.’s Digital Media Division purchased Making Fun, a social-game startup headed by Lee Crawford who helped cofound Twofish, and PlayFirst cofounder John Welch. .....

Nokia and Microsoft Partner

FEB. 10, 2011 • Finland’s Nokia Corp., the world’s largest mobile phone maker, has partnered with Microsoft Corp. to adopt the Windows Phone 7 operating system for all of its future handsets. The rationale for the move away from Nokia’s own OS is to better compete with Apple’s iOS and Google’s Android platforms. Impact: The mobile world has evolved to the point w.....

Visa Buys PlaySpan

FEB. 10, 2011 • Visa Inc. is acquiring the digital goods transaction firm PlaySpan Inc. in Santa Clara, Calif. PlaySpan is being purchased for around $190 million in cash, plus additional consideration for performance milestones. The acquisition is expected to be completed in VisaR.....

Jagex Finds VC Funds

FEB. 8, 2011 • Independent U.K. studio Jagex, creator of the hit MMO Runescape, sealed new agreements with venture capital firms to help fund upcoming projects.  Investments came in from three VC groups: Insight Venture Partners, Spectrum Equity Investors and The Raine Group. Cash and eq.....

HTC Invests in OnLive

FEB. 8, 2011 • Taiwan-based mobile phone manufacturer HTC invested $40 million in cloud streaming game service Onlive Inc. The investment gives HTC 5.3 million preferential shares of OnLive, each share priced at $7.50. The move was speculated to support content for HTC’s .....

Pocket Gems Taps $5 Million in Investment

DEC. 14, 2010 • Developer Pocket Gems, best known for its Tap Farm iPhone game, secured $5 million in investment led by Sequoia Capital. The Tap series of games is free to play and has generated millions of dollars in micro-transaction revenue. Pocket Gems intends to use the funding to expand its engineering team and to develop additional mobile content. Impact: It has only been a year since A.....

Viacom to Sell Harmonix

NOV. 12, 2010 • After reporting that its profit dropped 59% in the most recent quarter, Viacom Inc. said it would sell its Harmonix game division.  Harmonix is best known for creating the Rock Band franchise.  The music segment became over-saturated with sequels and related hardware by 2010, leading to declining consumer interest in such titles. Viacom’s game unit lost about $65 million the company disclosed in a conference call. “The console-games.....