Wednesday, July 23, 2008

Zynga Raises $29M

Online social gaming service Zynga announced today that the firm has raised $29M in an investment round, led by Kleiner Perkins Caufield & Byers and Institutional Venture Partners. Prior investors in the firm, including Union Square Ventures, Foundry Group, and Avalon Ventures, also participated. Zynga said the new funding for the company will be used to accelerate creation of its next generation of social games. Zynga develops online games which link into social networking sites. Former Electronic Arts co-founder Bing Gordon of Kleiner Perkins will join the firm's board of directors along with the funding. More information »