The developers of well-known celeb-themed online games which includes Kim Kardashian: Hollywood and Nicki Minaj: The Empire, Glu Cell, acquired Plain Vanilla Corp., and its cell social trivia recreation QuizUp this 7 days, in accordance to an SEC submitting.
The deal was valued at $7.five million, which includes forgiven debt, in accordance to sources familiar with the offer.
This is certainly a disappointing destiny for the investors who backed QuizUp, and sort of a steal for Glu Cell.
The Iceland-based mostly startup raised a hefty $22 million Series B round of undertaking funding led by Sequoia and Tencent in 2013. Altogether, the company had raised about $forty million in exterior funding, in accordance to Crunchbase, and had attracted tens of thousands and thousands of end users.
QuizUp, which is equivalent pieces social network and cell recreation, allows end users to participate in trivia from close friends, or to be matched in authentic time from an equally qualified and proficient players, for a provided subject matter.
QuizUp also permit end users create their own question and answer sets, which produced it captivating to educators, enthusiast communities, and brands seeking for inventive methods to encourage their products and solutions.
Very last year, the startup released software program that allowed corporations to use QuizUp to provide corporate coaching to their employees. And it inked a offer with NBC for a 10-episode show based mostly on and working with QuizUp for viewers-interactive features of the present.
All that solution improvement and maintenance prices funds, of program. In January this year, publicly traded Glu Cell backed Plain Vanilla with a promissory be aware that gave them the possibility to later on obtain the startup and its QuizUp-related belongings.
When NBC scuttled the QuizUp show in August, as Iceland-based mostly Northstack claimed at the time, it was expected that Glu would eventually buy QuizUp, supplied the startup didn’t find other cash to hold its lights on, from earnings or new backers.
Plain Vanilla CEO Thor Fridriksson declined to remark on terms of the offer with Glu Cell, today. He only claimed, “I hope that Glu will choose very good care of my baby.”
Traders in QuizUp could not be right away reached for remark.