Andre Yoskowitz
9 Aug 2010 22:29
Google has continued its strong expansion into the social gaming market, purchasing the virtual currency start-up Jambool for $75 million.
Jambool was founded in 2006 and has been a hit with its Social Gold virtual currency product.
Social Gold can be used in MMOs, virtual worlds, regular online games and social gaming applications.
The company was started by former Amazon execs Vikas Gupta and Reza Hussein.
Neither company has confirmed the purchase price but multiple sources place the price at $55 million, with another $20 million based on incentives.
Last week, Google purchased the social gaming developer Slide, for $182 million and earlier in the year, Google invested about $150 million in developer Zynga, the company behind hits like Farmville.