Zynga is confirming this evening that it has indeed raised $150 million in funding from Japanese internet and telecom firm Softbank. Reports that the social gaming giant had raised the cash first surfaced several months ago, although Zynga would not comment then.
Zynga and Softbank are setting up a joint venture in Japan, which they say will develop and distribute social games for the Japanese market, where Zynga currently doesn’t have any presence. That marks Zynga’s second move to expand into Asia. In May, Zynga made its initial foray into Asia when it bought up Beijing-based social gaming developer XPD Media.
With the new cash, Zynga will have now officially raised a staggering $384 million in funding, including $180 million in a round led late last year by Russian investment group Digital Sky Technologies. The company has also reportedly gotten a $100 million to $200 million investment from Google (NSDQ: GOOG), although it isn’t confirming that — yet.
ZYNGA AND SOFTBANK CORP. LAUNCH JOINT VENTURE TO ACCELERATE SOCIAL GAME INDUSTRY IN ASIA
SOFTBANK INVESTS $150 MILLION IN ZYNGA
SAN FRANCISCO and TOKYO