Jeff Campbell
03-24-2009, 08:00 PM
<div class='os_post_top_link'><a href='http://blogs.wsj.com/digits/2009/03/23/no-recession-for-iphone-game-apps/?mod=rss_WSJBlog?mod=' target='_blank'>http://blogs.wsj.com/digits/2009/03...ss_WSJBlog?mod=</a><br /><br /></div><p><em>"If anyone had doubts about the viability of a business that is purely focused on making videogame applications for Apple's iPhone and iPod Touch, venture capitalists aren't among them. Ngmoco, known for iPhone games like puzzle-adventure game Rolando and word game WordFu, said on Monday that it raised $10 million in a new round of financing led by Norwest Venture Partners."</em></p><p><em><img src="http://images.thoughtsmedia.com/resizer/thumbs/size/600/at/auto/1237875057.usr105634.jpg" /></em></p><p>It doesn't hurt to have the connections that Neil Young, the founder of <a href="http://blog.ngmoco.com/" target="_blank">Ngmoco</a>, has when you are looking for investors. Young was a longtime executive at <a href="http://www.ea.com/" target="_blank">Electronic Arts</a> before he quit EA last year to start Ngmoco. He expects to launch at least 15 premium games, priced between $5.00 USD and $10.00 USD, this year to go along with the 5 they released last year. I guess the VCs are expecting big things with the games, and can hardly blame them since out of the 25,000 apps available on iTunes, almost 7,000 of them are games. </p><p><em></em></p><p><em><em></em></em><em></em></p><p><em></em></p>