Social gaming is an international phenomenon. While Zynga is the leading social gaming company in the U.S., in Brazil it is a company called Vostu. The company has been growing rapidly and just closed a $30 million series C financing led by Tiger Management, with Accel Partners joining the round. Accel partner Jim Breyer, who sits on Facebook's board, will take a board seat on Vostu. Previous investors Intel Capital and General Catalyst partners also participated. Investors purchased about 10 percent of the company in this latest round, giving Vostu a post-money valuation of roughly $300 million, according to a source with knowledge of the deal. Including previous rounds, Vostu now has raised a total of $46 million. Vostu boasts 20 million active players a month, a tenfold increase from the beginning of the year. With only 40 percent Internet penetration in Brazil, that means that about a quarter of all Brazilians who are on the Internet play a Vostu game. Vostu currently has six social games (including a farm game, poker game, as well as soccer and crime role playing games) which are played on Brazil's largest social network, Google-owned Orkut. Almost all the revenues comes from virtual currency, which players spend inside the games.
Source: http://feedproxy.google.com/~r/Techcrunch/~3/CNx3MFfaNhI/
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