Playfish raises $17 million
Playfish, the social games company behind such blockbusters like Who Has The Biggest Brain and Bowling Buddies, just announced that they had raised a $17 million Series B round from Accel Partners and Index Ventures (originally reported by TechCrunch and others).
As TechCrunch notes this is really important because
- it’s at the face of all the doom & gloom (rightly) about the economic downturn & myths about VCs not investing anymore
- games are claimed to be counter-cyclical or even recession proof
- Playfish grew from zero to 10 million monthly active users in under a year (i.e. the door is not closed to new entrants in social games space)
- Playfish is one of the highest quality game providers (i.e. does production quality matter? Yes, it seems)
At the end of the day what VCs love to invest in is growth. Playfish has huge traction and stellar growth, so I’m not surprised at all that they got this investment – probably at a great valuation too.
P.S. I’m working on a follow-up post to the $350 million invested post soonish, and I’ll take a bit closer look on trends on VC investment in this space.