This isn’t quite our forte, but it’s insane nonetheless. Arjun Mehta, a 6th-grader in Silicon Valley is creating a company called PlaySpan for buying and selling virtual goods. Fair enough. A little website hosted on Dad’s server in the basement, maybe $500 in sales a month. Cool, right?
Well, the kid just raised $6.5 million in Series A funding. What is he going to do with the money? Ride around in a scale-model car like in The Toy? Buy Richard Pryor? I think I’ve seen this sort of behavior before. A few years back… what did they call it? The website balloon? Oh well. It’s probably nothing.
The company will actually partner with game makers to sell these items, rather than offering a clearinghouse for gamer to gamer sales. An interesting concept, but not rock solid. Next up: my 20-month-old Kasper will be starting a company that buys and sells pictures of airplanes and cats. We expect a $5 billion valuation by Sunday.
PlaySpan Takes $6.5m Series A, Founder In Grade 6 [TechCrunch]