San Francisco
– World Golf Tour, the operator of an online golf game, has raised $10 million
in its third round of funding, led by JAFCO Ventures, VentureBeat reported.
Previous
investors, who include Panorama Capital and Battery Ventures, also
participated.
Founded in 2007, San Francisco-based World Golf Tour will use
some of the funds for expansion overseas, as well as to develop a version of
its online game for Facebook, CEO Yuchiang Cheng told VentureBeat.
The
free-to-play game, which counts around 500,000 active monthly users, generates
revenue through the sale of virtual items, like branded golf clubs and balls.
Related Links:
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(VentureBeat)
I’m amazed WGT was able to raise a series C round. Investors have put in $27 million on building a flash game. After being in beta for 2 1/2 years and with no sign of going live soon, do we expect any additional funds going into this money pit?