/// Funzio’s Big Exit to Gree Fueled by Only Three Hit Game Titles
Funzio’s $210 million sale to Tokyo-based Gree this week makes it the second mobile game company with a relatively short operating history to be snapped up recently. In an interview, co-founder and President Anil Dharni said the company was founded two and a half years ago, but it didn’t make its first mobile game until nine months ago. Since then, it has launched three titles, including Crime City, Modern War and Kingdom Age, all of which have generated more than 20 million downloads. The quick multimillion dollar sale is reminiscent of Zynga’s recent $180 million purchase of OMGPOP , which had been around for awhile but only recently catapulted to the top of the iPhone charts with its overnight hit Draw Something. Dharni said the two back-to-back sales are not necessarily an indication of a trend in mobile games. “We tend to hear only about the successes,” he said. “If you look at some of the other mobile gaming companies, some have gained traction but there’s others struggling that have fallen off the charts. … I think the downward trend is also happening.” All three of the company’s games are free to play and monetized through in-game items. Both Kingdom Age and Modern War are among the top 25 grossing apps on the iPad. Crime City is the company’s oldest title. Neither Funzio nor Gree disclosed how much the apps are grossing, but Dharni said what makes its games stand out from the rest of the pack is player retention. And generally, the longer players engage with the games, the more likely they are to make purchases.
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Funzio’s Big Exit to Gree Fueled by Only Three Hit Game Titles
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