Zynga is a $5.5 billion company that has turned the video game world upside down.The guy in the picture thinks he can do them one better.
Online games maker OMGPOP is raising a $10 million series B. The money is from new investors Rho Capital and Softbank, as well as existing investors Spark Capital and Betaworks.
OMGPOP CEO Dan Porter tells us the company will use the money to “aggressively” hire flash and mobile developers as it re-orients the company around the iPhone and Facebook. Right now the company has 35 people. Founder Charles Forman is now leading mobile games development.
Porter says OMGPOP has looked at buyout offers from social games biggies in the past few months. He wouldn’t say who was looking to buy, but Zynga, Playfish (EA), and Playdom (Disney) are profitable, have money to burn, and have rolled up lots of smaller studios.
So why don’t OMGPOP investors want Zynga stock? Why is OMGPOP better off independent? Wouldn’t a huge distribution engine like Zynga’s help it grow even faster?
Porter says, The space is going to be so big that I think we can build a massive, massive game company on the East Coast.”
It’ll have to be. Last we looked on the secondary markets, Zynga’s market cap was around $5.5 billion – bigger than Electronic Arts.
Porter says OMGPOP has seen 5X growth in monthly active users since it moved to Facebook six months ago, and that 50,000 new users sign up daily.
“We can 5x to 10x bigger in a year,” he says.
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