Kongregate CEO Expects Profitability in 2010

Mon, Apr 12, 2010

Casual, Funding, Industry

Jim Greer, CEO of Kongregate has recently uncovered that he expects gis company to be profitable by the end of 2010. Kongregate, a web video game portal that launched in 2006, primarily makes its money on ads but has alo ventured into the digital currency world with ‘kreds.’

Greer stated: “8.5 million unique visitors per month (per Google Analytics) 21 million hours played per month (that’s how long people are on a game page). Can’t give a hard revenue number unfortunately because our investors probably wouldn’t be psyched about that. I can say that we are currently breaking even, and should be consistently profitable this year. We’ve done three rounds of funding totalling $9 million. The first was an angel round led by Reid Hoffman, who is the founder of LinkedIn and investor in Facebook, Flickr, Last.FM, among others. Then an VC firm called Greylock invested $5 million – they are also investors in Facebook, LinkedIn, Digg, Pandora, Zipcar, Redfin, Redhat, etc. Then Jeff Bezos put in $3 million. This was his personal money, not Amazon’s.”

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Talor is a Contributing Editor at Frisky Mongoose focusing on the mobile side of the social gaming world.

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