ISTANBUL, TURKEY and SAN FRANCISCO, CA--(Marketwire - May 25, 2011) - Peak Games, the flourishing emerging markets social gaming company, today announced a $5 million Series-A investment to foster continued growth in some of the fastest-growing markets in the world including Turkey and MENA (Middle East North Africa). The round is led by Earlybird Venture Capital, one of Europe's most successful, early-stage technology investors. The funding will enable Peak Games to execute on aggressive growth plans as the company solidifies its position as a global player in the expanding market for social games. Part of Peak Games' success has been driven by how the company reaches underserved markets with localized and culturally-specific games that employ strong engagement and monetization strategies.
"We've driven phenomenal growth due to our understanding of what players want, reflecting the culture and tastes that make high growth regions like Turkey and MENA unique," said Sidar Sahin, chief executive officer and founder of Peak Games. "With social media use exploding in markets such as Turkey, Brazil and the wider MENA region, we believe that the next big Facebook games will come from an emerging market. Thanks to this investment from Earlybird, Peak is well positioned to lead this second wave of social gaming growth."
"Peak Games demonstrates that the social gaming market is truly a global one," said Michael Pachter, analyst for Wedbush Morgan Securities. "Companies like Zynga and Nexon dominate in their markets because they fundamentally understand their customers and know how to create culturally-relevant content. I think Peak Games has done the same thing for Turkey and MENA and arguably already owns those markets."
Peak Games Dominating High Growth Emerging Markets
Turkey is already the fourth largest Facebook market, with over 28 million users and growing. Taken as a whole, the MENA region is one of the fastest growth areas for Facebook and social networking, with the number of users growing by 78 percent year over year and is forecasted to reach 250 million users by 2015.
Peak Games Statistics
Earlybird's investment follows an initial $2.5 million seed round from a number of investors including Hummingbird Ventures and serial business angels Evren Ucok and Demet Mutlu, bringing the total amount Peak Games has raised to $7.5 million in just six months. Peak Games' growth to date includes:
- Over 10M users play Peak's games every month.
- Every day more than 2M people meet, greet, chat and pass time with each other while playing Peak Games.
- Peak's games are played in 5 time zones, 4 continents and 5 languages.
- Game titles include: Okey, Okey Plus, Poker Star, Komşu Şehir, Komşu Kabile, İkon Kız (FabGirl), Bizim Dünya, Komşu Çiftlik and Petiler.
- Peak Games' most popular game is card-based Okey, which is by far Turkey's most popular online social game with 4.5 million monthly active users (MAU).
- Peak has partnered with several of the leading Western social gaming developers including The Broth which created Barn Buddy, and MagnetJoy which created Pet Party, to create and publish localized versions of those games.
- Women and girls enjoy freely dressing their avatars in İkon Kız (FabGirl), which is the first successful game in its genre.
- Peak Games' understanding and localization know-how allow it to cater to the regions' specific cultural needs and lifestyle in a way that non-local companies simply cannot match.
- Since December 2011, Peak Games Sales grew by 3,216%.
"The success Peak Games has had to date proves that the next big game genres on Facebook will offer culturally-relevant content and deliver a fully localized experience," said Jason Whitmire, partner at Earlybird Venture Capital. "We believe that this investment will support the company as it taps the rapidly-growing social gaming potential in emerging markets."
Michael Pachter continues, "Zynga and Facebook helped one another to penetrate the existing market, and Peak appears positioned to help Facebook penetrate new markets."
About Peak Games
Peak Games creates engaging and culturally-relevant social games aimed at players in emerging markets such as Turkey, the Middle East and North Africa.
With more than 10M active players drawn from one of the world's the fastest-growing social gaming markets, Peak Games already ranks as one of the 10 largest social gaming companies globally. Through its mixture of original IP, including Okey -- the most popular game in Turkey, Okey Plus and İkon Kız (FabGirl), and licensed games such as Komşu Çiftlik, Peak Games' mission is to continue to use its unrivaled expertise to create and publish social games that fit the unique interests and cultures of emerging markets.
Peak Games was founded in October of 2010 by one of Turkey's leading entrepreneurs, Sidar Sahin. The company is backed by investment from Earlybird Venture Capital and Hummingbird Ventures.
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