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Posts Tagged ‘social gaming’

Article from GigaOm.

Once an entrepreneur, always an entrepreneur — or something like that is true of 27-year-old Joshua Kushner, who despite being one of the hottest hands in the venture capital business has started his second startup, according to sources in New York.

Kushner, who eschews attention, is keeping everything hush-hush, so much so that even the name of the company is under wraps. In fact, I am still waiting to hear back from him. What I have learned is that it is focused on the healthcare business and is trying to take advantage of the changes in the healthcare industry due to universal healthcare. It has been funded by Kushner’s fund and has hired about fifteen people, mostly in engineering and design.

One of the reasons why Kushner’s new effort is interesting is because he has proved to be a stunningly successful venture capitalist, with a keen eye for consumer internet trends. Kushner started his first startup, Vostu (a social-gaming company based in Brazil) when still a junior in college about five years ago.

He left to work full-time on Thrive Capital, which has three funds and has about $200 million under management. As a venture capitalist, Kushner has been on a tear. His investments include Instagram, CodeAcademy, Dwolla, Fab, Warby Parker, and GroupMe. Of the lot, Instagram was acquired by Facebook and GroupMe was gulped by Skype before it was acquired by Microsoft.

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Article from SFGate.

“There’s been a lot of talk about San Francisco’s Zynga, the hot developer of the popular online games FarmVille and CityVille, going public.

Now comes a new report from eMarketer that predicts the social gaming market will surpass $1 billion this year, as online advertisement spending increases.

It calculates that nearly 62 million Internet users, or 27 percent of the online audience, will play at least one game on a social network monthly this year, up from 53 million last year.

Much of social gaming revenues, about 60 percent, come from virtual goods — special glow-in-the-dark cows and the like that players can buy for small change. They quickly add up — to an estimated $653 million this year.

Marketers are expected to pump more dollars into online advertisements, spending $192 million, up 60 percent over last year.”

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