Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
August 15, 2020
arrowPress Releases







If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Brazilian Social Game Dev Vostu Raises $30M

Brazilian Social Game Dev Vostu Raises $30M

November 29, 2010 | By Eric Caoili

November 29, 2010 | By Eric Caoili
Comments
    5 comments
More: Console/PC



Brazilian developer Vostu, best known for its releases on locally popular Google-owned social network Orkut, has raised $30 million from Accel Partners and Tiger Global Management.

Both of the developer's new investors have shown interest in social game companies in the past -- Accel previously backed Playfish before its acquisition by Electronic Arts for as much as $300 million last year, while Tiger has injected cash into FarmVille developer Zynga.

This round of funding, which was advised by investment firm Allen & Co., brings the total amount Vostu's raised in the past six months to some $50 million. The company intends to devote this new financing to further expanding its operations in Brazil. It currently has around 220 employees.

Launched in 2007, Vostu is headquartered in New York City and has offices in Sao Paulo and Buenos Aires. It initially launched as a social network but shifted its focus last year to creating social games for Orkut, which has a sizable audience in Latin America despite its lack of popularity in the U.S.

The firm's releases include MiniFazenda (a virtual farm simulator similar to FarmVille), Vostu Poker, Pet Mania, Cafe Mania, and most recently Rede Do Crime. As of September 2009, its catalog has attracted a total of 20 million monthly active users.

"Vostu is profitable and well-capitalized and continues to grow at an extraordinary pace," says Vostu's CEO and co-founder Daniel Kafie according to a report from The Wall Street Journal.


Related Jobs

Remedy Entertainment
Remedy Entertainment — Espoo, Finland
[08.14.20]

Senior Gameplay Designer (World Systems)
Remedy Entertainment
Remedy Entertainment — Espoo, Finland
[08.14.20]

Senior Gameplay Designer (Combat)
Disbelief
Disbelief — Cambridge, Massachusetts, United States
[08.13.20]

Programmer
Wizards of the Coast
Wizards of the Coast — Renton, Washington, United States
[08.13.20]

Lead Client Engineer









Loading Comments

loader image