The builders of popular celeb-themed video games like Kim Kardashian: Hollywood and Nicki Minaj: The Empire, Glu Cellular, acquired Basic Vanilla Corp., and its mobile social trivia recreation QuizUp this 7 days, according to an SEC filing. The deal was valued at $seven.five million, like forgiven financial debt, according to resources acquainted with the deal. This is definitely a disappointing fate for the buyers who backed QuizUp, and form of a steal for Glu Cellular. The Iceland-based startup raised a hefty $22 million Series B round of undertaking funding led by Sequoia and Tencent in 2013. Altogether, the company had lifted about $forty million in exterior funding, according to Crunchbase, and experienced captivated tens of tens of millions of consumers. QuizUp, which is equivalent components social community and mobile recreation, allows consumers to engage in trivia versus friends, or to be matched in real time versus an equally skilled and proficient gamers, for a specified subject. QuizUp also allow consumers develop their own question and reply sets, which created it attractive to educators, fan communities, and brand names on the lookout for innovative means to endorse their merchandise. Final 12 months, the startup released program that allowed corporations to use QuizUp to produce company education to their staff members. And it inked a deal with NBC for a 10-episode show based on and applying QuizUp for audience-interactive things of the demonstrate. All that product or service progress and routine maintenance prices income, of program. In January this 12 months, publicly traded Glu Cellular backed Basic Vanilla with a promissory notice that gave them the choice to later on buy the startup and its QuizUp-associated assets. When NBC scuttled the QuizUp show in August, as Iceland-based Northstack documented at the time, it was expected that Glu would eventually buy QuizUp, offered the startup didn’t find other funds to maintain its lights on, from earnings or new backers. Basic Vanilla CEO Thor Fridriksson declined to comment on terms of the deal with Glu Cellular, right now. He only said, “I hope that Glu will just take good treatment of my infant.” Investors in QuizUp could not be right away achieved for comment.
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The builders of popular celeb-themed video games like Kim Kardashian: Hollywood and Nicki Minaj: The Empire, Glu Cellular, acquired Basic Vanilla Corp., and its mobile social trivia recreation QuizUp this 7 days, according to an SEC filing. The deal was valued at $seven.five million, like forgiven financial debt, according to resources acquainted with the deal. This is definitely a disappointing fate for the buyers who backed QuizUp, and form of a steal for Glu Cellular. The Iceland-based startup raised a hefty $22 million Series B round of undertaking funding led by Sequoia and Tencent in 2013. Altogether, the company had lifted about $forty million in exterior funding, according to Crunchbase, and experienced captivated tens of tens of millions of consumers. QuizUp, which is equivalent components social community and mobile recreation, allows consumers to engage in trivia versus friends, or to be matched in real time versus an equally skilled and proficient gamers, for a specified subject. QuizUp also allow consumers develop their own question and reply sets, which created it attractive to educators, fan communities, and brand names on the lookout for innovative means to endorse their merchandise. Final 12 months, the startup released program that allowed corporations to use QuizUp to produce company education to their staff members. And it inked a deal with NBC for a 10-episode show based on and applying QuizUp for audience-interactive things of the demonstrate. All that product or service progress and routine maintenance prices income, of program. In January this 12 months, publicly traded Glu Cellular backed Basic Vanilla with a promissory notice that gave them the choice to later on buy the startup and its QuizUp-associated assets. When NBC scuttled the QuizUp show in August, as Iceland-based Northstack documented at the time, it was expected that Glu would eventually buy QuizUp, offered the startup didn’t find other funds to maintain its lights on, from earnings or new backers. Basic Vanilla CEO Thor Fridriksson declined to comment on terms of the deal with Glu Cellular, right now. He only said, “I hope that Glu will just take good treatment of my infant.” Investors in QuizUp could not be right away achieved for comment.
The builders of popular celeb-themed video games like Kim Kardashian: Hollywood and Nicki Minaj: The Empire, Glu Cellular, acquired Basic Vanilla Corp., and its mobile social trivia recreation QuizUp this 7 days, according to an SEC filing.
The deal was valued at $seven.five million, like forgiven financial debt, according to resources acquainted with the deal.
This is definitely a disappointing fate for the buyers who backed QuizUp, and form of a steal for Glu Cellular.
The Iceland-based startup raised a hefty $22 million Series B round of undertaking funding led by Sequoia and Tencent in 2013. Altogether, the company had lifted about $forty million in exterior funding, according to Crunchbase, and experienced captivated tens of tens of millions of consumers.
QuizUp, which is equivalent components social community and mobile recreation, allows consumers to engage in trivia versus friends, or to be matched in real time versus an equally skilled and proficient gamers, for a specified subject.
QuizUp also allow consumers develop their own question and reply sets, which created it attractive to educators, fan communities, and brand names on the lookout for innovative means to endorse their merchandise.
Final 12 months, the startup released program that allowed corporations to use QuizUp to produce company education to their staff members. And it inked a deal with NBC for a 10-episode show based on and applying QuizUp for audience-interactive things of the demonstrate.
All that product or service progress and routine maintenance prices income, of program. In January this 12 months, publicly traded Glu Cellular backed Basic Vanilla with a promissory notice that gave them the choice to later on buy the startup and its QuizUp-associated assets.
When NBC scuttled the QuizUp show in August, as Iceland-based Northstack documented at the time, it was expected that Glu would eventually buy QuizUp, offered the startup didn’t find other funds to maintain its lights on, from earnings or new backers.
Basic Vanilla CEO Thor Fridriksson declined to comment on terms of the deal with Glu Cellular, right now. He only said, “I hope that Glu will just take good treatment of my infant.”
Investors in QuizUp could not be right away achieved for comment.