Playdom Nabs $43 Million for Acquisition Spending

Thu, Nov 12, 2009


playdomPlaydom has scored a successful round of Series A funding – $43 million worth, reports TechCrunch. In case you didn’t know, Playdom’s Mobsters is one of the most popular games on MySpace, with over 14 million users.

The investment comes from New Enterprise Associates (NEA), Playdom chairman Rick Thompson, Lightspeed Venture Partners and Norwest Venture Partners (NVP).  Where will all that loot go? “To finance strategic acquisitions and expand the company’s pipeline of market-leading games.”

Playdom is valued at $260 million. 70% of their revenue comes from direct payments, 10% from advertising and 20% from offers.

The company also announced this week that Scott Sandell, general partner at NEA, is joining its Board of Directors.

“We are thrilled to partner with such an exciting company and strong leadership team,” said Sandell. “We believe social gaming is a transformative industry and Playdom is playing a critical role in shaping its future and the future of online social entertainment.”

Be Sociable, Share!

Related posts:

  1. Playdom Announces Acquisition of Metaplace, Inc.
  2. BREAKING: Disney Buys Playdom for $563 Million
  3. Playdom Hires New CFO, Christa Quarles
  4. Got Game? Social Dating from Zoosk Gets $30 Million in Funding
  5. gWallet Pockets $12.5 Million in New Funding
, , , , ,

This post was written by:

- who has written 1010 posts on Frisky Mongoose.

Contact the author