Monday, February 4, 2013

GameStop's Kongregate Lauches $10M Fund To Spur Games

Grapevine, Texas-based GameStop is funding a new, $10M fund being run by its Kongregate online gaming site, the two said Monday. Kongregate said its new, $10M fund is specifically earmarked for investing in indepent game developers, developing free-to-play, mobile games. Kongregate said it will also offer up distribution, financial assistance, consulting services and marketing support to those developers to help them compete in the mobile arena. As part of the effort, Kongregate also has snagged some executive talent in the area: Panayoti (Pany) Haritatos, the former Zynga general manager. Haritatos will head up Kongregate's new mobile devision. GameStop acquired Kongregate in 2010.