San Mateo, Calif. – Mobile games publisher Glu Mobile
announced on Wednesday that it has raised $13.5 million through a private
placement of its shares with ten existing and ten new investors.
The investors
included Greenway Capital, GGV Capital and New Enterprise Associates.
Founded
in 2001, San Mateo, Calif.-based Glu has created mobile games based on brands
from partners including Hasbro, Konami, Microsoft, Sony and Warner Bros.
"We
are very pleased with the support of our stockholders in this private
placement," said Glu CEO Niccolo de Masi.
"The proceeds will
significantly improve our capital structure as well as enable us to continue to
execute on our new strategic plan of persistent, cross-platform mobile
games."
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