Riot Games Raises $8 Million for Virtual Item-based Titles

Authored by Mark Hefflinger on September 9, 2009 - 8:29am.
Los Angeles - Riot Games, an independent developer and publisher of online games, announced on Wednesday that it has raised $8 million in new financing, from Benchmark Capital, FirstMark Capital and Chinese online services firm Tencent.

Founded in 2006, Los Angeles-based Riot Games develops free-to-play games for consoles, mobile devices and the PC that include virtual item-based economies.

The company's first game, "League of Legends," is set to launch in North America in the fall. Tencent will also distribute the game online in China.

 
Related Links:

http://www.businesswire.com/news/home/20090909005538/en

http://www.riotgames.com

Comments

Ridiculous?

A company led by two guys who have never made a game, has now raised *3* rounds of funding for a game that is now almost 2 years late. The announced investors are the same group from last years 2nd round raise along with the chinese distributor. I can guess at how little equity they have left and what a complete clusterfuck the board meetings must be at this point. Can't wait to see how this turns out!

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