Online games powerhouse Turbine confirmed that it has raised $40 million, though the actual investors are different from what was previously rumored.
Time Warner and GGV Capital led the round along with existing investors Highland Capital Partners, Polaris Venture Partners, Tudor Ventures and Columbia Capital. The investment will be used to accelerate Turbine’s growth in online games. Previously, Granite Ventures was the rumored lead.
Turbine is expanding its properties, including “Lord of the Rings Online,” which is being launched around the world. Jim Crowley, CEO of the Massachusetts company, said in an interview that the Asia expansion alone will bring millions of subscribers to that game. Turbine also wants to fund the expansion of properties like Dungeons & Dragons Online, which on its own isn’t generating enough revenue to fund expansion. And then the company has a couple of more secret projects in the works.
My guess remains that they’re going to do a console MMO game based on The Lord of the Rings Online. Taking the MMO to the consoles would be a big deal and would help it compete head-to-head with console MMO rivals such as Sony and NCSoft.
1:38 am
Startup Meme » Blog Archive » Tribune, Inc. Confirms $40 Million Raise said:
[...] to take online games to console(s) and I’m not the only one to think that way. According to Dean Takahashi, VentureBeat, it would be a big deal to take MMO game to the console which would help them compete head-to-head [...]
1:41 am
Turbine recibe el total de 40M de inversión said:
[...] la empresa dedicada a los juegos online, ha anunciado que ha recibido los 40 millones de dólares de inversión de los que hasta el momento sólo había recibido 25. La ronda estuvo dirigida por Time Warner y GGV Capital y en [...]
6:36 pm
highland games said:
[...] Warner and GGV Capital led the round along with existing investors highland Capital Partners, Polahttp://venturebeat.com/2008/06/04/turbine-confirms-40-million-raise/Highland games run this weekend at Hovander The Bellingham HeraldFERNDALE ?? The Bellingham Scottish [...]
10:04 am
Investors pour $161 million into 16 virtual worlds in second quarter » VentureBeat said:
[...] of the money went into two massively multiplayer online companies. Turbine picked up $40 million and Reatime Worlds raised $50 million. While there were eight youth-oriented world investments in [...]