Google has invested as much as $200 million in social gaming company Zynga, as it looks to bolster its presence in the world of online gaming, according to technology blog TechCrunch.
Everybody knows social media firms are growing like gangbusters. Facebook, for instance, recently surpassed 350 million users, 16 months after reaching 100 million users.
Unlike many of us, media executives know what it’s like to play around with large wads of cash. So it seemed natural to ask them about what kind of investment opportunities they’re seeing when they gathered in New York this week for the Reuters Global Media Summit.
from Summit Notebook:
The founder of the hot social gaming company, which is operating at a more than $200 million yearly run rate according to sources familiar with the matter, said sharing such information would contribute to the kind of hype that would be bad for the nascent industry.
With the Web 2.0 conference about to kick off in San Francisco, Internet start-ups are unveiling new products and tossing out crumbs of data about their businesses intended to illustrate how fast they’re growing.
As centers of innovation go, there are worse places to place a bet on the past repeating itself than California's technology hub. Looking beyond the Internet, housing and credit bubbles, it's still the preferred playground of such leading financial weathervanes as venture capitalists, gizmo nerds and software studs.