SGN Gets Funding Boost From Bezos
Jeff Bezos, founder and chief executive of Amazon, has invested in Social Gaming Network (SGN), which develops gaming applications on social networks such as Facebook. SGN, based in Palo Alto, was spun out of Webs.com, the Silver Spring company formerly known as Freewebs.
VentureBeat had the news this morning. It's the second boost in funding for the developers recently. In May, SGN raised $15 million from Greylock Partners, Founders Fund, Columbia Capital and Novak Biddle Venture Partners.
Chief executive Shervin Pishevar is shuttling back and forth between Palo Alto and the Washington area, which used to be his full-time home. SGN has been pegged by many blogs and investors as a company to watch with pretty fast growth in the months since it launched on Facebook. It has about 815,000 active users and a valuation of more than $83.4 million, according to Adonomics. SGN, with nearly 51 million installs, continues to battle rival Zynga, trailing close behind with 47 million installs, for users.
Any fans of SGN games out there? Why has gaming taken off on platforms like Facebook?
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Posted by: Matthew | July 14, 2008 5:31 PM
Posted by: Matthew | July 14, 2008 5:32 PM
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