For background, MindJolt recently bought Social Gaming Network and game network Hallpass Media. MindJolt also offers a monetization product called AdJolt, which includes ads and a virtual goods system. Currently, the company is seeing ‘tens of millions’ in revenue and is profitable.
DeWolfe has a clear vision for the company and hasn’t been afraid to shell out cash to help him compete with some of the bigger players like Zynga. MindJolt aims to become a cross-platform game distribution empire, with titles on mobile, web and social platforms.
This year, MindJolt has launched iOS games— Warp Dash, Master Shot, DressUp!-Fashion, and Mini Café. And more games are to come this year.
MindJolt is also revealing that revenues from the sale of virtual goods now makes up nearly a third of the company’s total revenues, which puts it in the millions. Of course, this is a pittance compared to Zynga’s massive revenue from virtual goods, but it’s impressive for the short amount of time MindJolt has been around.
Of course, DeWolfe is going to have to work fast to catch up to Zynga, EA, Disney and some of the other gaming giants who are dominating the space. He says that he plans to acquire more studios, especially for talent.