Japanese Gaming Giant GREE Just Dropped $210 Million On An iPhone Game Maker

GREE

Photo: GREE

t looks like Japanese mobile gaming giant GREE Is on a shopping spree for mobile game makers.When we talked to founder Yoshikazu Tanaka last month, his company had just made an investment in IUGO, a Canadian mobile game maker.

Now, GREE has spent $200 million to acquire Funzio, the developer behind the hit iOS games Crime City and Modern War.

It’s not quite as big a deal as Facebook buying Instagram for $1 billion, but it reinforces that iOS is the big-money platform for startups to bet on.

Funzio was previously rumoured to be raising $50 million at a $350 million valuation.

GREE is already a giant in Japan — GREE’s social app on one-third of all Japanese phones — and it just opened a San Francisco office to help expand into the U.S. Last year, GREE spent $104 million to acquire social gaming platform OpenFeint.

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