Boston-based startup Lookout Gaming has drawn attention to the city?s often-overlooked consumer and mobile gaming community with a $1.25 million seed round from Boston investors?Atlas Venture?and?Nextview?Ventures, as well angels, including?Mark Jung, former CEO of IGN.
Founders Andrew Paradise and Casey Chafkin are applying their merchandising and payment expertise to the plight of indie game developers, hoping to radically improve the revenue model for mobile games. Paradise, who also serves as Lookout Gaming?s CEO, tells us he?is building a company that gives game developers a novel option to monetize their mobile gaming apps.??The success of companies like Rovio has compelled many indie game developers to create really entertaining mobile games, but the developers have had limited success monetizing them,? Paradise says.
The seed round of funding will support Lookout Gaming?s delivery of a software developer kit that will provide an undisclosed monetization option, Paradise says. ?The SDK will enable new and existing mobile games to incorporate a revenue creation technique that would otherwise be very challenging at the operating scale of an indie gaming studio.?
Paradise cites an example from Lookout Gaming?s private testing, where a game with approximately 100,000 monthly active users yielding only $0.07 per user has realized a multifold improvement using this technique. ?When we release the SDK we should be able to enhance revenue yield by an order of magnitude which will create intense developer loyalty,? Paradise says.
Investors stepped up to fund Lookout Gaming because of its founder?s experience. Paradise, a serial entrepreneur has already had two successful exits. He is fresh from?selling his last company, AisleBuyer, to Intuit earlier this year. At AisleBuyer, Paradise and Chafkin, who was the fourth employee, were able to create an in-store mobile merchandizing and mobile payment opportunity for bricks-and-mortar retailers, which Paradise explains has many parallels to the system their team is building for the gaming industry.
?These underperforming mobile games are a virtual version of the merchandising and frictionless payment challenge that this team solved for the retail industry,? says Atlas Venture?s Jeff Fagnan. ?This is a truly disruptive play as well, this time in online gaming.?
LookOut Gaming is a startup in stealth mode. Their goal is to make gaming meaningful.
? Learn moreseattle weather skier sarah burke gingrich wife cheryl burke sarah burke mega upload santorum wins iowa
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.