Published:
Wellington Partners Invests Over $17 Million in GameDuell
BERLIN andPALO ALTO, Calif., July 3 /PRNewswire/ -- Today Wellington
Partners (http://www.wellington-partners.com), one of the leading
international venture capital firms, announced that it has invested over
$17 million (euro 11 million) in GameDuell (http://www.gameduell.com), one of
the fastest-growing skill game sites and the number one games community in
Germany. This Series B funding will be used to accelerate the company's
international expansion into other European countries andthe United States,
and build on the current 10 million members.
"Our results inFrance andSpain show that our marketing strategy is
internationally successful and that our know-how in the development of online
games and a games community drives international demand. We now intend to use
our competitive edge to expand into further European markets as well as inthe
United States," explains GameDuell co-founder and CEO Kai Bolik.
GameDuell develops and operates skill-games, which include Solitaire,
Mahjong, Sudoku, Pool and Darts. GameDuell has more than 200 media
partnerships and isGermany's third-largest online advertiser. TheBerlin-
based company currently employs 80 people and plans to double the workforce in
the coming months.
GameDuell's management team is headed up by experienced Internet
entrepreneurs Kai Bolik, Michael Kalkowski and Boris Wasmuth. GameDuell
received Series A funding from Holtzbrinck Ventures and Burda Digital Ventures
in 2004. Now, Wellington Partners will invest in a proven business model with
the potential for global market leadership.
Wellington General Partner Frank Boehnke explains: "Worldwide, more than
200 million people are already using the Internet as a games platform. With
its sophisticated technology, years of experience and an excellent management
team, GameDuell has the chance to shape this progressive market worldwide."
About Wellington Partners
Wellington Partners is one of the most successful international venture
capital firms. With $1.2 billion under management and offices inLondon,
Munich,Palo Alto andZurich, the firm invests in companies that have the
potential to become global leaders, in the areas of Information Technology,
Media Convergence, Cleantech and Life Science.
Since 1998, Wellington Partners has established a worldwide network to aid
its entrepreneurs in building companies on a global scale. Wellington Partners
has invested in more than 100 companies including publicly-traded Actelion,
SAF and XING, and successful privately-held companies like Alando (acquired by
eBay) and ImmobilienScout24 (acquired by Deutsche Telekom) as well as current
portfolio companies like Adconion Astaro, Questico and Truphone. For more
information please visit http://www.wellington-partners.com.
About GameDuell
GameDuell isGermany's largest games community with 10 million members and
the most widely visited German Internet games site. GameDuell members can test
their skills against other players in exciting skill games, and win attractive
prizes in the process. Formed in 2003, the company is headed up by its
founders Kai Bolik, Michael Kalkowski and Boris Wasmuth, and employs more than
80 people. GameDuell numbers amongEurope's most innovative Internet
companies, winning the prestigious Red Herring 100 Europe Award in 2007.
Further information is available at http://www.gameduell.com under press.
GameDuell GmbH Wellington Partners
Nikola Guenther/Luis Ongil Frank Boehnke
T: +1 415 203 6042 T: +44 203 00 61535
Mail: nikola.guenther@gameduell.com
Mail: boehnke@wellington-partners.com
SOURCE Wellington Partners
Copyright © 2008, PRNewswire
Copyright © 2008, NewsBlaze,
Daily NewsTags: Computers and Electronics, Games and Multimedia, Banking and Finance, High Tech, california
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