Thursday, January 21, 2016

Glu Mobile Invests In Plain Vanilla Corp., Eyes Future Acquisition

San Francisco-based Glu Mobile said this morning that it has invested $7.5M in Reykjavik, Iceland-based Plain Vanilla Corp., the developer of the mobile game QuizUp. As part of the investment, Glu Mobile said it also has been given an option to acquire Plain Vanilla Corp. for an undisclosed price 15 months from closing of the initial investment. Glu Chairman and CEO Niccolo de Masi joins the board of Plain Vanilla Corp. as part of the investment. The $7.5M was in the form of promissory notes convertible into a minority equity stake. More information »