Google acquires Jambool (virtual economy platform)
Companies in Relationship
Initial Announcement Date:
Consideration: $70 million (Source: TechCrunch)
Google acquires Jambool Inc. from Vikas Gupta and Reza Hussein. According to TechCrunch sources, the deal value is $55 million with an additional $15-20 M structured as an earnout. Jambool offers a payment API that enables micropayments in an online game or social network application. The company's currency API offers solutions for developers to establish a virtual currency for real commerce.
January 2012 -- Jambool’s Social Gold has been incorporated into Google’s payment products and is being used for in-app purchases on Android Market and Google+ Games. Vikas Gupta, Jambool co-founder, one of the leaders on the Google Wallet initiative, resigns from Google.
October 2012 -- Vikas Gupta co-founds Play-I, which is designing toy robots that teach young children how to program.
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