August 18, 2004
VC's on fire for Mobile Gaming
Investors have finally caught on to the fact that mobile entertainment is hot growth sector. Now they're climbing over each other to throw money at mobile game developers.
"mobile gaming is young enough that it's cheap to produce a lot of games and see which ones stick."
"In two months' time, venture investors have recognized this is a great market in the U.S. and there are a finite number of lead players," says Rory O'Driscoll, managing director at BA Ventures. "They've made bets real quick."
VCs made six gaming investments totaling $50 million in all of 2003. In the second quarter of 2004 alone, there were five deals totaling $86 million, according to VentureOne, a San Francisco-based research firm.
Arc Group predicts that the mobile game industry could reach $8.4 billion worldwide by 2008.
San Jose Biz Journal Article
SlashDot Article
The Feature Article
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