Kongregate powers up with $3m investment and more

Digital

Kongregate powers up with $3m investment and more

Kongregate powers up with $3m investment and more

San Francisco-based Kongregate, which hosts over 4,000 user-made indie-games, has announced it has received a $3m investment from Amazon.com chairman and founder Jeff Bezos.

His personal investment outfit Bezos Expeditions has handled the funding, and the money will be used to help Kongregate "continue to scale rapidly".

Kongregate.com has a predominantly male userbase - 93 per cent of which Kongregate says spend almost an hour a day on the site, compared to Facebook's 21 minutes. The company says it expects to hit over 10m unique visitors a month by the end of the year and has seen a monthly growth rate of over 25 per cent.

The company has hired Viacom's MTV Networks former VP of sales Lee Uniacke as its chief revenue officer. He'll be responsible for securing high profile ads and partnerships that target the site's 13 to 24 year old male audience.

“In a media environment that is defined by constant channel and Web surfing, Kongregate alone captures the ADHD generation and keeps their attention for an hour at a time,” noted Uniacke.

“Kongregate’s persistent environment lets users rack-up rewards and achievements that they can display to the community, giving them valuable social currency on the site. Combine that with the edgy and creative Web games that young, talented indie developers upload daily and you’ve got a great site. It’s the ideal online destination for reaching the hard-to-pin-down young male demographic for advertisers like video game companies, movie studios, and auto manufacturers.”

The company also plans to use the money for expansion beyond the Kongregate.com site, by launching seven new games for Facebook.

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Johan

May 1st 2008 | 14:00

The funding that Kongregate has gotten so far is impressive. How are Miniclip, Multigames and other sites funded?

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