Wednesday, November 26, 2008

PlaySpan, Inc., the leading provider of digital goods micro-transaction and payment solutions got $16.8M funding

What Company Is Offering:
PlaySpan is the game industry's first publisher-sponsored in-game commerce network. PlaySpan's patent-pending in-game search, commerce and micropayment technologies enable game publishers and developers to generate new revenues, acquire new users and extend the loyalty of existing users. Leading game providers and virtual world publishers have selected PlaySpan as their official marketplace for virtual goods.

PlaySpan offers global payment solutions through its subsidiary PayByCash®, which has served the games industry for 10 years, supporting over 70 payment methods in over 180 countries.

How Much They Got From VCs:

PlaySpan, Inc., the leading provider of digital goods micro-transaction and payment solutions, announced $16.8M in Series B investment from Easton Capital Group, Menlo Ventures, Novel TMT Ventures, STIC and other undisclosed investors. This new capital brings the company's total funding to $24M. The new funding will be used to expand into Europe and Asia and to grow PlaySpan's global publisher and user-base.

"Online games publishers and social media application developers are looking for new sources of revenue beyond traditional advertising and subscriptions. We are enabling a new business model in the form of micro-transactions for users that prefer the pay-as-you-go model," said Karl Mehta, Founder & CEO of PlaySpan. "It is a testament to our market-leading position, demonstrated growth, and the long-term potential of virtual goods and micro-transactions that we have raised a significant round in spite of the current economic climate."

The pay-as-you-go model has gained rapid adoption and is poised for tremendous future growth because it gives consumers more control over their entertainment experience and offers publishers expanded revenue opportunities. PlaySpan offers publishers and developers a complete out-of-the-box platform for managing secure, efficient micro-transactions, virtual goods sales, global alternative payments and peer-to-peer trading. PlaySpan’s platform enables any developer to monetize any content at any price for any user in any country, said Mehta.


VSC Consulting
Vijay Chattha, 415-305-6041

No comments: