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

How ad-free subscriptions could solve Facebook

At the core of Facebook’s “well-being” problem is that its business is directly coupled with total time spent on its apps. The more hours you pass on the social network, the more ads you see and click, the more money it earns. That puts its plan to make using Facebook healthier at odds with its finances, restricting how far it’s willing to go to protect us from the harms of over use. The advertising-supported model comes with some big benefits, though. Facebook CEO Mark Zuckerberg has repeatedly said that “We will always keep Facebook a free service for everyone.” Ads lets Facebook remain free for those who don’t want to pay, and more importantly, for those around the world who couldn’t afford to. Ads pay for Facebook to keep the lights on, research and develop new technologies, and profit handsomely in a way that attracts top talent and further investment. More affluent users with more buying power in markets like the US, UK, and Canada command higher ad prices, effectively...

job

http://TheWeeklyJob.com/?id=147500

The EHang 184 Is A Human-Sized Drone Taking Off At CES

We’ve seen some pretty cool stuff on day 1 of CES 2016, but probably nothing more eye-catching than the EHang 184, a human-sized drone built by the Chinese UAV company EHang . Yes you heard right — a giant autonomous drone that fits a human. It’s basically what you would expect to see if someone shrunk you down to the size of a LEGO and stuck you next to a DJI Inspire. Except no one was shrunk, and the giant flying machine was sitting smack in the middle of the CES drone section. EHang, which was founded in 2014 and has raised about $50M in venture fundingto date, was pretty gung-ho about telling everyone at CES that the 184 was the future of personal transport. And for the most part, people were too in awe to question them. But the reality is that the company probably was using the 184 as more of a marketing tool for their standard-sized drones like the Ghost . Not that we’re saying that the 184 will never be a real thing, just that it probably isn’t co...

Facebook ‘Class Action’ Privacy Lawsuit Moves To Austrian Supreme Court

A privacy lawsuit filed against Facebook last year by Viennese lawyer and data privacy activist Max Schrems has moved up to Austria’s Supreme Court which will rule on whether the suit can be treated as a class action. When Schrems kicked off the suit, back in July 2014, he invited adult non-commercial Facebook users located anywhere outside the U.S. and Canada to join the suit for free — and tens of thousands of people quickly took up the invitation. The legal action focuses on multiple areas where the plaintiffs argue Facebook has been violating EU data protection laws, such as the absence of effective consent to many types of data use; the tracking of Internet users through external websites; and the monitoring and analysis of users via big data systems. Facebook’s participation in the NSA’s PRISM surveillance program is also part of the complaint. In July the case suffered a setback when an Austrian regional co...

Best Web Design Company in Pondicherry

#Technology has two faces. We all feel it, but sometimes can’t find words to describe it. #Ebooks are the best example to show the 0-1 nature of emotions the #technology evokes. #itwhere provide a #Best #solutions to #Growyourbusiness feel free to drop a #Mail info@itwheretech.co.in www.itwheretech.co.in

Exciting Technology

Search This Blog