August 9th, 2004 by Ashu Mathura Posted in Companies & M&A | No Comments »
New mobile gaming rage offers opportunity for deals. After years of virtually ignoring the gaming industry, venture capitalists are finally ready to play.
Mobile gaming is catching fire, thanks to the explosion of color phones and the desire by carriers to charge for services other than voice. Although mobile gaming is more prevalent in Asia and Europe, several U.S. startups are making a serious play to become the Electronic Arts Inc. of the mobile world. And VCs want in.
So far this year, Jamdat Mobile Inc., of Los Angeles, has filed to go public; Mforma Group, Inc., of Kirkland, Wash., has raised a $44 million round; and Sequoia Capital and Kliener Perkins Caufield & Byers, both of Menlo Park, have funded EA founder Trip Hawkins in a new venture dubbed Digital Chocolate Inc., based in San Mateo. Most recently, San Mateo-based Sorrent, Inc. has raised $20 million, led by BA Ventures, of Foster City. Three other Peninsula investors — New Enterprise Associates of Menlo Park, Globespan Capital Partners of Palo Alto and Sienna Ventures of Menlo Park — also played a role. More …
