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Glu Mobile To Invest Up To $7.5 Million In QuizUp, With Option To Acquire

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Glu Mobile To Invest Up To $7.5 Million In QuizUp, With Option To Acquire

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QuizUp, the Icelandic firm that put trivialities in an app, has announced that it’s receiving as much as $7.5 million in funding from Glu Cellular, with an solution to call to procure.

This comes in the wake of a partnership cast between NBC and QuizUp, introduced in October, with the community having a look to turn QuizUp content into a right kind TELEVISION convey performed both in studio and at house in the course of the app.

The Additional work requires some extra money, and Glu Cellular’s CEO and Chairman Niccolo de Masi explained that the solution to Collect is smart given QuizUp’s Present monetization strategy.

“Glu is looking to consolidate once our partnership proves out the monetization functionality of the QuizUp target audience and app,” mentioned de Masi. “For The Time Being the company has yet to start monetizing considerably and as such would now not be accretive to procure outright.”

Though QuizUp has more than 31 million registered users, who have played more than 5 billion video games on the platform, the corporate has but to take off on the income front. At The Moment, QuizUp makes cash through branded partnerships with films, books, and TELEVISION presentations.

As An Instance, QuizUp’s giant destroy came within the type of a care for the Twilight movie saga to strengthen trivia content material across the film sequence.

Glu and QuizUp will be working on the NBC programming collectively, with the hope that it will significantly elevate QuizUp app downloads, in step with the release.

In Could of closing yr, QuizUp modified its platform considerably from being a real sport to extra of a social network, full with folks search, consumer profiles, threaded comments, boards, and it’s own personal chat system. Of Course, the QuizUp trivialities sport used to be laid over the social community as a way for folks to make new chums, connect with Current pals, and so on.

Though the valuation of QuizUp remains to be unknown, the company has got a total of $27 million, except this new spherical from Glu. The previous spherical closed in December of 2013.

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