Social network for gaming, “gamesGRABR”, has launched an equity crowdfunding campaign, to raise £150,000 for the ongoing development and growth of their business. Today’s crowdfunding launch is one of the first by a game focused tech company to offer a stake in the company not just a product, all investors will own shares in a fast growing company. Spear-headed by successful gaming entrepreneur Tony Pearce, the campaign aims to raise £150,000 from interested investors for equity in parent company TeePee Games. The investment from the crowd will be supplemented by an additional £200,000 raised by Pearce and his team from existing investors. The company closed a seed funding round of £250,000 in March 2013, used to develop and launch the site as it is today.
gamesGRABR has attracted over 100,000 unique visitors since it came out of beta in June, and in the last 3 months unique visitors have grown organically 100% month on month with an average of 35% returning – way above forecast. It’s this speed of growth that has led gamesGRABR to accelerate the funding round, choosing Crowdcube which is much quicker than traditional VC funding. Gamers worldwide have the opportunity to invest in a fast growing gamer focused social network, helping to provide the additional resources needed to capitalise on the momentum with investment in European marketing and development plus hiring in the US.
“I’m no stranger to attracting funding; I know that the traditional VC route is hard for early stage start-ups like us. gamesGRABR is a social network that is all about gaming, the fastest growing entertainment sector globally, so it’s important for us to have the gaming crowd supporting us by giving them a chance to become investors. We appreciate the power of recommendation and have added an ‘Invest Now!’ button to the homepage so all our users know they have the opportunity to get behind a business they love in a simple and secure way.” commented Tony Pearce, gamesGRABR CEO.
Investing in start-ups may be viewed by some as high risk but gamesGRABR hopes to attract interested parties with a combination of unique functionality, a proven business model with multiple affiliate deals in place with major retailers including Apple, Amazon and GAME and the most experienced executive team in the gaming market, repeat entrepreneurs with a history of successful exits.
Tony Pearce has 20 years of experience in the entertainment and gaming industry and has raised over £15m in VC funding, starting 3 companies with 2 successful exits. He co-founded Player X, Europe’s largest mobile games distribution company in Europe that was acquired by Spanish mobile content company Zed in April 2009, going on to launch TeePee Games which has developed and launched gamesGRABR.
gamesGRABR has over 50,000 games across all platforms and new features such as platform and genre filtering, the ability to play, buy or download any game in one click plus more social interaction were introduced when the site came out of beta in June 2013, improving the user experience.
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