Funzio Deals with Gree Inc
By: Leon Castles
on Wednesday, May 02, 2012
Acquisitions and deals are part of business strategies and therefore many companies are now trying to merge with better companies that can provide them with market stability and funds. Funzio Inc is one of the young companies based in San Francisco but the company has decided to deal with Gree Inc. the company said that the company will be bought by Japanese company Gree Inc that will Funzio Inc $210 million to complete the deal. Funzio Inc is a small game company that has achieved more success and popularity with their popular games like Crime City, Modern War and Kingdom Age.
One of the main reasons why Funzio Inc has received more popularity is because they create free to play games for multiple platforms which attract more people from all over the world. They did generate more revenue with the help of Crime City which was the first game that they developed on Facebook in September 2010. Today, there are more than 20 million download for the game. Funzio Inc even went for a funding in 2011 and it received funding by IDG Ventures that provided them with $20 million in the year 2011. However, Gree Inc decided that they would like to expand their business and they decided to buy a 41,000 square foot office in San Francisco. Hence, the company decided that they would even buy Funzio and another mobile gaming company called OpenFeint for $104 million.