Big Fish Games Raises $83.3 Million
- Scribbled on September 16th, 2008 by casualgamerchick
- Filed in Casual Gaming, Industry News, Legal Brief
Big Fish Games, a major casual games developer and distributor and one of the biggest game portals on the web, announced an $83.3 million funding round provided by three Venture Capitalist(VC) firms. Some of the money will be used for international expansion and the some of the money will help with acquisitions down the road.
The VC firms are buying $83 million worth of common stock in the company. The shares are a mix of Angel Funding Shares, which helped start the company, and new shares that will be issued.
“Big Fish Games has a remarkably deep and talented management team and the company is uniquely positioned to capitalize on the worldwide growth of online interactive entertainment,” Evans said in a news release.
This is a great move for Big Fish Games. They have been profitable and have even grown 100% from last year, but this money allows them to get a good foot hold in the casual games area. The money will help them make the leap from a start-up company to a full fledged company. Big Fish Games, obviously, had a good reason for needing the money and the VC companies thought they could make their money back, so now we just have to wait and see.
(Thanks, Seattle Times. Originally posted at CGC.)
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