Friday, July 23, 2010

RockYou, Facebook Ink Virtual Currency Deal

RockYou, the provider of social games and advertising for social media applications, said Thursday that it is in a long term, five year agreeement with Facebook to make Facebook Credits the exclusive virtual currency in its games and applications. RockYou said that, as is standard for all Facebook developers, it will receive 70 percent of the revenue from the Facebook Credits. RockYou is backed by Sequoia Capital, Partech International, Lightspeed Venture Partners, DCM, SK Telecom Ventures and Softbank.