Gamesmaker Funzio is raising $50 million at a $350 million valuation, TechCrunch’s Kim-Mai Cutler reports.
Funzio made hit iOS games Modern War and Crime City. Funzio is also big on Facebook.
Funzio games are free, in the hopes that users will download them, get addicted, and then pay small amounts of money to make them easier.
Its the strategy Zynga followed to an IPO last year.
Kim-Mai Cutler says Funzio’s challenges will be rising user-acquisition costs and an Apple crackdown on bots or automated programs that propel apps higher on its lists of top apps.
Correction: An earlier version of this post said Funzio had already raised $50 million. It is in the process of raising that amount, Cutler reports.
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