Cloud-based gaming company Gaikai, which raised $30 million in venture capital about 11 months ago, has put itself on the block with a $500 million price tag, according to a Fortune report.
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After Zynga goes public tomorrow, hundreds of its employees may see their wealth soar into the millions of dollars. The same appears true for possibly thousands of Facebook employees, when it holds its offering next year. But while Silicon Valley appears awash in easy money once again, the reality is that getting rich at a startup has never been [...]
Gaikai, a privately held cloud gaming firm whose backers include Electronic Arts, Intel Capital and Akamai Technologies expects to sign deals with major publishers and video game makers, as the market shifts from console-based games to online titles, according to Reuters. CEO David Perry, 44, who founded Gaikai in 2009, said he is “going back [...]
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Game maker Electronic Arts is poised to invest in a newly-formed, $200 million Canadian venture capital fund made up of former EA employees, peHUB has learned. The firm, called VanEdge Capital, expects to hold its first close on $100 million from six limited partners, including EA, later this month.
Vancouver-based VanEdge plans to focus on early stage digital media opportunities in the United States and abroad and has garnered support not just from one of the world’s largest video game publishers. Limited partners currently executing final diligence on the firm include the Export Development Bank, the Business Development Bank, the British Columbia Investment Management Corp. (one of Canada’s largest pension funds), BC Renaissance Capital Fund and Nicola Investments, says firm co-founder Paul Lee.
Electronic Arts (Nasdaq: ERTS) has agreed to buy social gaming company Playfish Inc. for $400 million, including a $100 million earn-out. The company had raised $21 million in VC funding from Accel Partners and Index Ventures.