Monday Fundings: Live Gamer Raises $24 Million, Streamezzo Raises $22 million
Erick Schonfeld
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Two decent-sized fundings were announced today. Paris-based Streamezzo raised $22 million in a C round led by a Kuwaiti investment group, NTEC. That brings the total capital put into the firm, which sells technology for mobile-TV and rich-media streaming applications, to $48 million. Other investors include Sofinnova Partners, AXA Private Equity, and Qualcomm.
Live Gamer came out of stealth today with a $24 million A round from Charles River Ventures, Kodiak Venture Partners, and Pequot Ventures. Live Gamer wants to create an eBay for virtual goods used in online worlds and videogames. It faces fierce competition from 6th grader Arjun Mehta, who raised $6.5 million in September for MMOG marketplace PlaySpan.
How does playspan get VC money?
I think this kid getting huge pressure stress and having mess up kids to run the labor force company.
Modavox (MDVX) is a likely takeover target by Google. Although the company is already suing Tacoda, recently acquired by AOL for their behavioral targeting technology, rumor has it that their patents run much deeper with the list of infringers ranging from AOL to Ebay to Google’s Ad Sense and even You Tube.
http://www.clickz.com/showPage.html?page=3627004
As online advertisers seek to monetize audiences with more targeted advertising, look for Modavox’s patented IP to become a sought after undervalued asset putting them on some big internet players radars.
A $24 million A round?!? That’s gotta be an insane valuation…
i think the 6th grader will win.
do they have to change the “about” page every year? or the kid quits school already?
me thinks the whole “founded by a 5th grader” charade is a little disingenuous. it might generate more buzz, but i think the reality of it is that the CEO is just using his kid as a marketing gimmick. just my 6 cents (due to inflation).
“It faces fierce competition from 6th grader Arjun Mehta” WTF, did you write that with a straight face?
Impressive amounts for nothing much!
fakesteveballmer.blogspot.com
Good to have competition, and wow, what an A round. They already have a deal with the sony, possibly with vivendi from what i understand. It’ll be up to the users in the end. One of them could be ebay acquisition bait?
Firstly, they are not exactly the same, PlaySpan is planning (I’m not saying working on) a micropayments system AND marketplace. LG is planning (I’m not saying working on again) - ONLY a marketplace. Also, it hasn’t been mentioned that there is a Sparter out there already, in a different niche, but still…
Maybe the readers of TC would be interested in details of LG team too. They had found in-game ads firm ‘Massively’ in the past, then successfuly sold it to Microsoft for 300M.
Drop all your overhyped ‘web 2.0′ toys, people, go into gaming applications and Virtual Worlds, that’s where the money will be made in next 5 years.
…also, you, Erick, didn’t mention CRV and Susan, who’s probably (I don’t know it for sure) leading this LG round. She’s THE smartest VC person I’ve ever met. Worth mentioning REALY smart people sometimes, isn’t it? Or do you only discuss overhyped drop outs?
Correction: “Massive” of course.
This is just insane.
The big players of videogames creating more tough competition for smaller and mid size company.
Wow, that is alot of money. Gaming is big now
Dale
http://dzrbenson.com/blog/