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SOCIAL BINGO START-UP RAISES A MILLION DOLLARS
4/17/2012 : SOCIAL BINGO START-UP RAISES A MILLION DOLLARS
BitRhymes plans to introduce casino gaming to mobile and Facebook users
San Francisco-based BitRhymes, a recent start-up that has managed to attract 400,000 daily active users and 2 million casual players to its Facebook social game Bingo Bash, has ambitions to expand into casino style offerings and has the support of some impressive angel investors to do so.
This week the company announced that it has been successfl in raising $1 million in capital following support from angel investors like IGN founder Mark Jung, World Golf Tour chief executive Yu Chiang, former general counsel of Apple and Oracle Dan Cooperman and Doug Bergeron, the chief executive of VeriFone.
Like many other companies piling into the social gaming scene, BitRhymes is hopeful that the restrictive gambling environment in the United States will ease, allowing expansion and commercial activity.
Bingo Bash is targeted primarily on women players and was launched last June, quickly picking up player interest and support.
With its fresh capital BitRhymes is planning to localise its product for different markets and introduce 10 language versions. The company is additionally putting more focus on its mobile versions of the game after the release of Bingo Bash HD for the iPad.
BitRhymes spokesmen have revealed that players who use the game on both iOS and Facebook generate three times the revenue of users on a single platform.
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