Glu Mobile To Invest Up To $7.5 Million In QuizUp, With Option To Acquire

QuizUp, the Icelandic company that put trivia in an app, has announced that it is receiving up to $7.5 million in funding from Glu Mobile, with an option to call to acquire.

This comes in the wake of a partnership forged between NBC and QuizUp, announced in October, with the network looking to turn QuizUp content into a proper TV show played both in studio and at home through the app.

The extra work calls for some extra cash, and Glu Mobile’s CEO and Chairman Niccolo de Masi explained that the option to acquire makes sense given QuizUp’s current monetization strategy.

“Glu is looking to consolidate once our partnership proves out the monetization capability of the QuizUp audience and app,” said de Masi. “At the moment the company has yet to begin monetizing significantly and as such would not be accretive to acquire outright.”

Though QuizUp has more than 31 million registered users, who have played more than 5 billion games on the platform, the company has yet to take off on the revenue front. Currently, QuizUp makes money through branded partnerships with movies, books, and TV shows.

For example, QuizUp’s big break came in the form of a deal with the Twilight film saga to develop trivia content around the movie series.

Glu and QuizUp will be working on the NBC programming together, with the hope that it will significantly increase QuizUp app downloads, according to the release.

In May of last year, QuizUp changed its platform significantly from being a true game to more of a social network, complete with people search, user profiles, threaded comments, forums, and it’s own private chat system. Of course, the QuizUp trivia game was laid over the social network as a way for people to make new friends, connect with current friends, etc.

Though the valuation of QuizUp is still unknown, the company has received a total of $27 million, excluding this new round from Glu. The previous round closed in December of 2013.

Comments

Intel announces the first 14 nanometre processor

At the Computex conference in Taipei, chipmaker Intel has revealed a fanless mobile PC reference design using the first of its next-generation 14nm "Broadwell" processors. The 2 in 1 pictured here is a 12.5" screen that is just 7.2 mm thick with keyboard detached and weighs 670 grams. The Surface Pro 3 – for comparison – is 9.1 mm thick and weighs 800 grams. It includes a media dock that provides additional cooling for a burst of performance. The next-generation chip is purpose-built for 2 in 1s and will hit the market later in 2014 . Called the Intel Core M, it will be the most energy-efficient Intel Core processor in the company's history with power usage cut by up to 45 percent, resulting in 60 percent less heat. The majority of designs based on this new chip are expected to be fanless, with up to 32 hours of battery life, offering both a lightning-fast tablet and razor-thin laptop. Intel is also delivering innovation and performance for the ...

Laser gun is deployed and operational on U.S. Navy warship

After several years of research and testing, the U.S. Navy has introduced a new laser gun designed to protect ships without using ammunition. Another entry on our timeline is now a reality as the U.S. Navy has authorised the first operational use of a laser weapon. This new hi-tech system – known as the Laser Weapon System (LaWS) – is designed to serve as a form of defence against drones and other small flying vehicles or small-boat enemies including suicide attackers. It is highly accurate, able to hit objects moving at up to 300 mph (480 km/h). The LaWS fires a solid-state infrared beam with two modes: high output to destroy a target, and low output for optical "dazzling", warning shots or to cripple a potential attacker. Among the advantages of this device versus projectile weapons is the low cost per shot, as each firing of the weapon requires only minimal cost for generating the energetic pulse; by contrast ordnance for projectile weapons must be des...

Uber, Google and other tech employees form Coalition of Black Excellence

When black employee resource groups from a variety of tech companies come together, black magic happens. More specifically, black excellence happens. The Coalition of Black Excellence Week, spearheaded by Uber Litigation Counsel Angela Johnson in collaboration with black ERGs from over 40 tech companies like Facebook, Google, eBay, Lyft and Microsoft, kicks off this Monday in the San Francisco Yay (Bay) Area. The idea for CBE Week came in part from Johnson’s experiences living in Washington D.C., and being able to attend events put on by the Congressional Black Caucus, she told me at Uber’s headquarters this week. “When I moved out to the Bay Area, I really wished there were similar types of experiences for tech,” Johnson said. “And I thought if we could bring together different black ERGs, or diversity and inclusion committees, or people who were interested in some of the issues the black community is passionate about, a lot of positive change and impact could come from that....

Oculus’ New $99 Samsung Gear VR Makes Serious Virtual Reality Affordable

At half the price of its last mobile VR headset, the new $99 Oculus-made Samsung Gear VR is cheap enough to unlock virtual reality for the mainstream. Revealed today at the Oculus Connect conference, it works with the whole 2015 line of Samsung Smartphones including the Note 5, S6, S6 Edge, and S6 Edge+. It will ship in November in time for Black Friday. Compared to the $199 previous Gear VRs that only worked with fewer phones, this headset will be a lot more accessible. The new Gear VR is 22% lighter, making it more comfortable to wear. The trackpad on the temple of the headset also now has a tactile directional pad on it so your finger will know where it’s touching. The previous Gear VRs had a smooth trackpad and sometimes it was to tough to know if you were touching it or just the unsensitive shell of the headset when you couldn’t see for yourself. There’s also a new Gear VR Gamepad which all the Oculus Connect conference attendees will get for free. It features an...

C++ Question!!

Come and submit your answers here. Pls visit the link for correct answer: http://www.orianaitsolutions.com/tuton_question-of-day

Exciting Technology

Search This Blog