The Series B round for Witherspoon’s Draper James brand was led by San Francisco-based Forerunner Ventures.
GameStop buys Kongregate, a social gamer with 10 million monthly players.
GameStop Corp. is shoring up its digital content strategy with the acquisition of Kongregate Inc., a social gaming destination with millions of monthly players.
Terms of the deal, including the purchase price, weren’t disclosed. But GameStop, No. 115 in the Internet Retailer Top 500 Guide, is purchasing Kongregate to further build out its e-commerce and digital content strategy, the retailer says.
Kongregate is a free-to-play gaming site with approximately 10 million players who collectively spend about 23 million hours each month accessing an inventory of more than 30,000 games, the retailer says.
“Kongregate advances GameStop's digital strategy by providing a gaming platform for casual, mobile and browser games that can be promoted and played by our existing gamers,” says CEO J. Paul Raines.
After the deal closes around Aug. 1., Kongregate co-founders Jim and Emily Greer will continue to lead the company, says GameStop. Kongregate.com, launched in 2007, has proven extremely popular with Internet-connected gamers who have embraced its Flash and web-based content, including mobile games, says GameStop. “Kongregate's unique digital platform allows consumers to discover great free-to-play games that can be enjoyed via Internet-connected devices,” says GameStop. “Acquiring Kongregate strengthens GameStop's digital platform and its commitment to become the gaming aggregator of choice.”
GameStop, which operates almost 6,500 stores worldwide and 4,443 in the U.S., is making acquisitions to build out its digital content and delivery strategy. In November, GameStop acquired a majority stake in Jolt, an online game platform developer. Terms of the deal were not disclosed.