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Funcom secures additional funding of approx. 30 million USD
abal
Member UncommonPosts: 169
Additional funding fuels Funcom's 'Age of Conan' launch -
Durham, USA– June 27th, 2007– On the back of significantly growing external and internal expectations related to‘Age of Conan: Hyborian Adventures’ -- Funcom’s highly anticipated Massively Multiplayer Online Game (MMO) -- Funcom yesterday completed a private placement and through this received additional funding of approximately 30 million USD.
“We’re expecting the launch of‘Age of Conan’ to create significant waves in the MMO gamespace,” says Funcom CEO Trond Arne Aas.“With the secured additional funding Funcom is in an even better position to make the launch of the game a success. This commitment from the financial market is reflecting the great promise and expectations for‘Age of Conan’.”
‘Age of Conan’ is progressing according to plan towards the announced launch date of 30th October 2007. The game has recently received strong early sales indications from partners and retail channels both in the U.S. and in Europe and press and gamer expectations for‘Age of Conan’ continue to grow strongly. To ensure an optimal launch of’Age of Conan’, Funcom and its key partners has through this round of funding strengthened Funcom’s marketing and operational capacity prior to launch.
Funcom has furthermore decided to enter the casual MMO segment and is currently evaluating several possible expansion opportunities. As some of these opportunities may involve near term acquisitions, Funcom would also benefit from an increased strategic flexibility.
'Age of Conan' is consistently listed as one of the most anticipated PC games of 2007, and won 'Best MMO of E3' awards from IGN, GameSpot, GameSpy and Yahoo. 'Age of Conan' is a key title in Microsoft's Games for Windows line-up, as well as being a showcase DirectX 10 title for nVidia. More information about the game can be found online at www.ageofconan.com.
_ _ _
ABOUT FUNCOM - Funcom is an independent developer and publisher of online games for PC, consoles and mobile platforms. Funcom has provided outstanding entertainment since 1993 and continues to expand its track-record of more than twenty released games. Recent titles include 'The Longest Journey', 'Anarchy Online' and 'Dreamfall: The Longest Journey'. For corporate information please visit www.funcom.com . For information about Funcom games visit www.anarchy-online.com , www.dreamfall.com or www.ageofconan.com . Funcom is listed on the Oslo Stock Exchange under the ticker FUNCOM.
Funcom press contacts: pr@funcom.com
Jørgen Tharaldsen, Product Director, Funcom +47 41 33 41 47 (Global press)
Terri Perkins, Product Manager, Funcom +1 631 998 3210 (US press)
Erling Ellingsen, Product Manager, Funcom +47 48 86 71 07 (European press)
Source: http://www.mcvuk.com/press-releases/29860/Funcom-secures-additional-funding-of-approx-30-million-USD
Comments
Yeah baby! Funcom is meaning serious business with AoC. I just can't wait! The combat and raiding other guild towns and the class evolving type branching.
Only problem now is that whole nudity issue with the rents, but hopefully I'll be able to score a credit card to pay for gas when I'm out an about... And I have a relationship with Jesus and constantly seeing the boobies wouldn't be good at all, though they are only virtual. Here's to hoping that they are revealed few and far between sections in the game... and possibly avoidable. Guess I'm still hypocritical with all the death and gore in this game, but I'm ok with that, and that part is a video game but to most people boobs are boobs real or not. Now that I'm thinking about it, it really doesn't matter to me and I'd think Jesus would be cool if I don't lust or nothing, but who would with them not being real?
Big deal is with the parents. But I know it keeps the immature and younger than me out... But what about those select few? Guess those 10 mature young teenagers (me=16) aren't enough to not stay true to Conan's theme. Understandable... This whole post has been revealing things to me! Wish me luck and hope I see you ingame at release.
Did the $30 Mill come from SOE? Is Brad McQuad somehow inv0olved?
Just checking.........
Brad who ?
Interesting news, and sure points out that its getting real expensive to develop and launch a successful MMORPG.....
"True friends stab you in the front." | Oscar Wilde
"I need to finish" - Christian Wolff: The Accountant
Just trying to live long enough to play a new, released MMORPG, playing New Worlds atm
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Don't just play games, inhabit virtual worlds™
"This is the most intelligent, well qualified and articulate response to a post I have ever seen on these forums. It's a shame most people here won't have the attention span to read past the second line." - Anon
Their "additional" funding alone is what most MMOs have as their entire budget! I really hope this game lives up to the hype and that they managed their funds better than a certain other company that only recently left a bitterness in alot of gamer's mouths.
Here is to hoping this game is what they claim!
That's a serious mint they scored. They should be feeling very good about their situation right now and continue to focus on polish, even if it means a slight delay into 2008 because that is what will bite them the worst.
How the hell do you get that kind of funding for something that is not yet producing money?
Their market studies indicate there there's going to be a huge demand when this game goes gold. Resellers all around the world are already receiving requests for this game from their customers.
Also their demos and exibitions of the game features and mechanics were strong evidence that the game is gonna live up to the hype we're seeing.
that principle is called "return of investement"...
"You must be either retarded or a fanboi..."
Funding does not necessarily mean it will be good , look at Vantrash, but it sure as hell can't hurt he chances either.
I miss DAoC
30m from who? Microsoft?
In return for what? Dumbing down their game to the extent that it is enjoyable for attention deficit console gamers?
We'll see soon enough I guess...
---
Heh, somehow I doubt it, for exactly the same reasons you ask. Not to mention Brad spent 30% of his Vanguard hype time bashing competitors, particularly AoC.
No man is an island, entire of itself; every man is a piece of the continent, a part of the main. any man's death diminishes me, because I am involved in mankind, and therefore never send to know for whom the bell tolls; it tolls for thee.
Hemingway
Are this $30 mil ensure class balance also ?Hope so
As unpopular as another delay would be, I think one is coming and that's fine with me. A delay is much easier to overcome than a bad release.
Although I would prefer a delay to a bad release, I do think it will hurt funcom. Right now one of the major advantages that AoC has over WAR is that it drops first. I know I know, everyone says that the two games cater to different audiences. But, there are a lot of gamers such as myself who plan to try both. If AoC is as good as they say it will be, then many of those who planned on trying both will eventually come back to AoC. They will have more developed avatars because they had more time with AoC. Lets face it. Unless your living in your mom's basement, pasty white from not seeing the sun, and pissing in gaterade bottles because you can't leave your comp, you won't have time to develop characters on both games to their full potential simultaneously. People are going to have to pick. But, as many have mentioned earlier, a delayed launch is light years better than a flawed one.
/agree, and I think Funcom learned that with AO. If they had held off on AO's release a few more months, the game would have went down in MMORPG history as one of the greats
I miss DAoC
I'm fine with funding, as long as Mr. 'Investor' doesn't one day decide to take an active influence on the game mechanics or make the FC answer to them. If this game does indeed meet expectations, I don't want it to end up like WoW/Blizzard messing up and becoming to greedy for their own good.
Investors usually dont have much say. As a stockholder you dont dictate day to day policy for a company that you own shares in.
Besides, only a fool would try to exert that kind of pressure to something that is making them money, if it's not making them money, then as fans, we've got bigger issues, and the game is probably not all it's cracked up to be anyhow.
Just about covers Athelan's Company Coffee Quota for the rest of the year!
Good news indeed.
Wonder where the guy who complains they don't see much AoC stuff, ask again next month will you please
Venture capital company speculates they will make money on Funcom stock and future options.In return they sell high yield securities (Junk Bonds) to private investors.Bonds probably are 3 year short term notes at between 10-12% interest.
I hope they're not biting off more than they can chew. Funcom is a small company and they don't exactly have a good track record for smooth releases. Nearly every game/expansion they launched had serious problems at first. The more they hype or market it the worse the backlash will be if there are major bugs.
30 mil does not necessarily mean a delay in launch, though given how broken mmos are on launch it may not be a bad thing.
What it more likely means is that there's going to be some revenue for live teams and expansions from the get-go. My guess is they probably needed the "loan" to cover this years expenses and now have the benefit of planning for next year.
And yes, to reiterate on earlier posts, this kind of investment means investors are particularly bullish about this game, and they have every reason to be given that WoW's playerbase is on the decline. This means more players wanting more games.
-- xpaladin
[MMOz]
AC1/2, AO, DAoC, EQ1/2, SoR, SWG, UO, WAR, WoW
wow
Playing: Everthing
Played: DAoC,AC2,EvE,SWG,WAR,MXO,CoX,EQ2,L2,LOTRO,SB,UO,WoW.
I have played every MMO that has ever come out.
well.... i guess thatz a good news. im glad this game won't be something like "Wish" which i think its a fantastic game but one day when i try to login to the website, it was shut down!!!!
and they better give us beta soon! >.<
well you can safely say that this game will be delayed again, so that they can make use of that 30m properly.