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Monday, July 14, 2008

Bezos Invests In Social Gaming Network

Social game distribution platform Social Gaming Network has announced that Bezos Expeditions, Amazon founder and CEO Jeff Bezos' personal investment fund, has invested in the company for an undisclosed amount.

SGN announced in May 2008 that it had secured $15 Million in Series A funding, reportedly the largest first round for any social gaming or application company. The round was led by Greylock Partners, Founders Fund, Columbia Capital, and Novak Biddle Venture Partners.

Previously Bezos Expeditions revealed a similar investment for social Flash game portal Kongregate, offering up $3 million dollars. Kongregate announced that it would use the funds to continue to scale its site. The Bezos portfolio includes investments in Pelago, Twitter, TeachStreet, Powerset (acquired by Microsoft), ChaCha, and 37signals, with a total fund value of nearly $70M.

The Social Gaming Network specializes in publishing and providing a development platform for social games, such as Warbook and Jetman. Since the company's inception, its games have attracted over 1 billion page views, 54 million installs, and nearly 1.1 milion daily active users across social networks Facebook, Bebo, hi5, and MySpace.

Said SGN CEO Shervin Pishevar: "We are proud to be announcing the Bezos Expeditions investment. Mr. Bezos' knowledge and experience lends itself to the growth and expansion of the social gaming ecosystem. His participation in our funding will allow us to continue capturing new demographics in gaming by distributing the highest quality games available on the social web."

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Posted by Eric Caoili on July 14, 2008 12:42 PM |

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