Well, we had the amount last week, but didn’t have the investor name: Time Warner is investing $7.75 million in Glu, the mobile gaming publisher based in San Mateo, CA. This is the fourth round of funding, and the total round closed at $27.75 million.
Andy Heller, president of domestic distribution for TW’s Turner Broadcasting, has joined Glu’s board.
Fortune:
TW magazine does a long story on investment: “We wanted to get in now and watch and learn, and a company like Glu affords us the opportunity to do that,” said Heller. Time Warner hopes Glu, which has raised about $58 million of venture financing since it was founded in 2001, can help it navigate the mobile complexity.
Forbes: It doesn’t give Glu an inside shot at using any of Time Warner’s properties, nor does it prevent the company from continuing to work with News Corp.’s Fox Sports division, which currently licenses it name to several games.
Related:
— Glu Raises Another $7.75 million To Close Fourth Round At $27.75 Million
— Sorrent Renames Itself As Glu Mobile
— Glu Mobile on its Rebranding Process
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