gamesGRABR, a social network for gaming, is launching a new round of investment to fund its critical next phase of growth. Following a successful crowdfunding campaign in late 2013 where it quickly achieved its £150,000 target and over funded by 20%, gamesGRABR is now looking to raise £400,000. The investment will be a combination of crowdfunding through Crowdcube and new individual investors.
With upwards of 70,000 unique users per month and 49% returning month on month the fast growing start-up has achieved a highly engaged community in a short space of time, helped by partnering with influential vloggers (video bloggers) to promote their own Featured Collections. These new celebrities of the Internet, including YogcastKim, Caddicurus and GamesSprout, with over a million subscribers between them, bring a level of influence and reach unavailable via traditional routes. It is this highly engaged gaming community gamesGRABR CEO, Tony Pearce hopes to reach through crowdfunding.Since closing its first crowdfunding round, gamesGRABR has achieved its stated goals and more. The contemporary ‘pinboard-style’ interface launched to allow the users to curate their own gaming collections, discover, engage, play and share them with other users, on any platform. Successful affiliate deals are already in place with retail giants Apple, Amazon and Game, plus the site has introduced its own e-commerce service via partnerships with Sony, Codemasters, Warner Brothers and Capcom amongst others enabling it to offer games, special offers and discounts direct to users.
“Crowdfunding works well for us, the gaming community and the very nature of gamesGRABR relies on peer to peer recommendations and that in turn gives us exposure to potential new shareholders who love gamesGRABR. With this new funding round we can revisit those who have already invested plus reach those who perhaps missed out, show them our achievements to date and the value in reinvesting in this exciting and critical scaling up of our growth.” commented Pearce.The company will use the funds raised to expand its global marketing efforts and expand the technology, launching a mobile site and app to introduce mobile imaging to the mix, with an aim to reach one million unique users in 2015.
The crowdfunding economy has more than tripled in the last three years and is now recognized as a critical route for tech start-ups to quickly gain access to capital.
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