Update: Playdom Paid At Least $850,000 For Hive7
A couple of weeks ago, game developer and Zynga rival Playdom continued its shopping spree just after raising $33 million in funding, acquiring social gaming startup Hive7.
What Playdom spent to buy the True Ventures-backed company wasn’t disclosed, but thanks to an SEC filing we now know that it concerned a mixture of cash and stock.
The exact amount Playdom paid for Hive7 in cash remains unknown, but the SEC filing reveals the stock part of the equation: $851,498 worth of shares were issued to help pay for the startup.
Playdom has been on quite a shopping spree over the past few months. The company, which recently brought on a new CTO, has steadily been expanding its presence on Facebook and in the social gaming space, most recently acquiring MMORPG developer Acclaim Games, Facebook game developer Offbeat Creations and developer Three Melons.
Playdom also invested $5 million in Facebook game developer MetroGames. And Playdom bought popular branded game developer Merscom.
Last November, Playdom raised a massive $43 million at a $260 million valuation. In total, the company has secured $76 million in venture capital.
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Playdom is a game developer with a focus on social, online games. The company has a number of popular titles on the iPhone, Myspace, and Facebook.
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Hive7 creates massively multiplayer web games for social networks such as MySpace and Facebook.