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Zynga Gets $180 Million Investment
by Leigh Alexander [PC, Console/PC]
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December 16, 2009
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Social game developer Zynga has raised $180 million thanks to investors who want to help the company grow. Global internet investment group and Facebook investor Digital Sky Technologies and others provided the cash through a purchase of Zynga securities.
Zynga will put the investment toward its continuing growth, and toward liquidity for itself and its investors. DST will be a "passive" investor, meaning it won't take a seat on the board of directors or get observer rights for meetings. Existing major Zynga investors include Kleiner Perkins Caufield & Byers and Union Square Ventures, among others.
"We are excited about our relationship with DST as they are a global player dedicated to creating services that are meaningful to consumers in the long term," says Zynga founder and CEO Mark Pincus.
Zynga, developer of titles like FarmVille, Cafe World and FishVille, recently announced it had reached 100 million unique users. FarmVille, the Facebook-based farm simulation game, launched in June and has reached a user base of 65 million -- 26 million of whom play the game on a daily basis, the company has said.
"The investment from DST allows us to continue delivering on the promise of social games for consumers, making fun the biggest way for people to interact," says Pincus.
DST chief executive Yuri Milner adds, "We share in Zynga’s mission of connecting people through games and believe they are in a solid position with their team, offerings and market share to succeed in a dramatic way," said Yuri Milner, chief executive of DST.
As of today, Zynga claims over 230 million monthly active users playing its games -- a figure that counts the same user across multiple games as multiple users.
"Our earlier investment in Facebook and now in Zynga underscores our premise that social networking and social entertainment will define the next generation of the web," says Milner.
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I've heard some pretty impressive numbers on what they make daily through MT and ad related revue streams so yea they are very profitable right now which is why i don't think the money is to "keep them afloat"