Glu Cellular To Make investments Up To $7.5 Million In QuizUp, With Choice To Purchase
QuizUp, the Icelandic firm that put trivia in an app, has introduced that it’s receiving as much as $7.5 million in funding from Glu Cellular, with an choice to name to accumulate.
This comes within the wake of a partnership cast between NBC and QuizUp, introduced in October, with the community trying to flip QuizUp content material into a correct TV present performed each in studio and at residence via the app.
The additional work requires some additional money, and Glu Cellular’s CEO and Chairman Niccolo de Masi defined that the choice to accumulate is sensible given QuizUp’s present monetization technique.
“Glu is trying to consolidate as soon as our partnership proves out the monetization functionality of the QuizUp viewers and app,” stated de Masi. “In the mean time the corporate has but to start monetizing considerably and as such wouldn’t be accretive to accumulate outright.”
Although QuizUp has greater than 31 million registered customers, who’ve performed greater than 5 billion video games on the platform, the corporate has but to take off on the income entrance. Presently, QuizUp makes cash via branded partnerships with films, books, and TV exhibits.
For instance, QuizUp’s massive break got here within the type of a cope with the Twilight movie saga to develop trivia content material across the film collection.
Glu and QuizUp might be engaged on the NBC programming collectively, with the hope that it’ll considerably improve QuizUp app downloads, in accordance with the discharge.
In Might of final yr, QuizUp modified its platform considerably from being a real recreation to extra of a social community, full with individuals search, consumer profiles, threaded feedback, boards, and it’s personal personal chat system. In fact, the QuizUp trivia recreation was laid over the social community as a approach for individuals to make new associates, join with present pals, and so forth.
Although the valuation of QuizUp continues to be unknown, the corporate has acquired a complete of $27 million, excluding this new spherical from Glu. The earlier spherical closed in December of 2013.