KPCB-backed iPhone game dev Ngmoco raises $25 million, acquires Freeverse

Blowout Specials ends 2/28“In two big announcements on Tuesday for ngmoco, the iPhone game publisher said that it had raised $25 million in Series C financing and that it had also acquired competitor Freeverse,” Oliver Chiang reports for Forbes. “This latest round of venture capital was led by Institutional Venture Partners, with previous investors Kleiner Perkins Caufield & Byers, Norwest Venture Partners and Maples Investments participating.”

“The iPhone and iPod Touch game market Apple created is clearly a growing one: just last December Smule, an iPhone apps and games developer known for its I Am T-Pain and Ocarina apps, was also the target of investor interest, raising $8 million in Series C financing. But ngmoco’s acquisition also hints that the market might be a maturing one,” Chiang reports. “In other words, is it time for iPhone game developers and publishers to [move] from proliferating to consolidating?”

Chiang reports, “Ngmoco has been successful in free-to-play games like Eliminate Pro and Touch Pet Dogs, while Freeverse has done well in the paid apps market with its low-cost games, like Skee-Ball and Flick Fishing, often priced at 99 cents.”

Full article here.

[Thanks to MacDailyNews Reader “qka” for the heads up.]

12 Comments

  1. While consolidation reduces choice, it can be a good thing too. It’s definitely a good sign for Apple’s market; companies have faith in the long-term implications of the App Store; expansion means commitment to the platform.

    This is not a move of desperation on ngmoco’s part. This is a savvy business strategy by the visionaries behind the scenes.

    Freeverse is in good hands.

  2. This might be more about Freeverse’s games and applications for the Mac than their App Store products. It lets ngmoco diversify their line into the computer itself and may lead to console and computer versions of their games. Also, it will hopefully give Freeverse a shot of cash to help development of more new games.

    As long as they both continue making great games, this sounds like a win-win to me.

  3. Yes, but what do these Mac newcomers know about the romance of the Mac without hearing Jared’s dulcet tones? I haven’t tried him on SL, but he was working not too many systems ago. And he had a quartet, or some such group, and more. Tell me it isn’t so, Freeverse!

  4. I see that Jared and SimStapler do indeed work in SL! But Jared’s chorus isn’t here. It must have disappeared when OS 9 went away. Will Ngmoco feed and care for Jared? Will they refill the stapler? Or will those tasks fall to others?

    MW: “hell”

    How I feel after listening to Jared for too long!

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