28 November 2015

Google to buy virtual currency outfit Jambool - TechCrunch

10 August 2010  |  8990 views  |  0 add to basket

Google has agreed a deal worth up to $75 million to buy Jambool, the company behind Social Gold, a virtual currency platform used for online games and applications, according to TechCrunch.

Citing "multiple sources", the tech blog says Google will pay $55 million for the company, with another $15 million to $20 million in an earnout. The move pits Google squarely against Facebook and its Credit virtual currency.

The Social Gold platform is used by developers of applications on social networks like Facebook and MySpace as well as online games to create currency systems and monitise their offerings.

Jambool - founded by Amazon veterans Vikas Gupta and Reza Hussein - initially developed its own games on social networks before switching its focus last October.

It now offers other developers a platform for virtual currency, payments - including via credit cards, Paypal, Google, Amazon and mobile phones - and analytics.

Last August the firm raised $5 million in a series b financing round led by Madrona Venture Group.

Another Piece To Google's Social Puzzle: To Acquire Jambool For $70 Million - TechCrunch

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

09 July, 2010
19 February, 2010
18 August, 2009
30 June, 2009
01 June, 2009
10 March, 2009

Related company news


Who is commenting?

Finextra Member Commented on: EPC publishes proposal...
Finextra Member Commented on: EPC publishes proposal...

Top topics

Most viewed Most shared
BBVA buys 29.5% stake in Atom for £45...
7791 views comments | 34 tweets | 41 linkedin
BNP Paribas to test contactless payment di...
6082 views comments | 17 tweets | 25 linkedin
Former Barclays chief forecasts massive jo...
5974 views comments | 27 tweets | 30 linkedin
Hilton confirms data breach
5380 views comments | 11 tweets | 17 linkedin
Alternative payment methods challenge plas...
5214 views comments | 21 tweets | 23 linkedin

Featured job

to $120K base, double OTE, benefits
New York City, NY or Boston, MA (USA)

Find your next job