Virtual World eRepublik In €2 Million First Round Funding
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Online games, especially ones involving virtual worlds, remains a sector to watch closely: Spanish-based eRepublik which runs the strategy-based game of the same name has bagged €2 million (£1.68 million) in first round VC funding from AGF Private Equity. That takes its total funds raised to date to about £2.3 million, as the company confirms on its blog (viaTechcrunch).
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The browser-based game—which was developed in Romania and Ireland—mirrors the real world and asks users to choose a nation to live in (eUSA or eThailand for example); users then carry out work for the game’s currency (there are in-game 17,502 businesses), interact with its thousands of members, increase their social standing or take part in invading other countries (eUSA has invaded eCanada for example). The site received 3.7 million visits in May.
Registration is free and it’s not keeping the team behind Activision-Blizzard’s World of Warcraft awake at night—but any game with thousands of committed regular followers has money-making potential whether through advertising, sponsorship or paid-for extras. The game has an affiliate ad programme which rewards affilates $1 for every users that signs up through their ads and co-founder Alexis Bonte says he’s only acheived 25 percent of what the game could be. And quite unlike WoW, the game’s makers say you only need 15 minutes a day to play.
Posted In: Entertainment, Games, Money, M&A & Venture Capital, Venture Capital
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