Mediastay Secures a $21.5 Million Round of Funding
Apr 22, 2011
Mediastay, a specialist in the monetization of online games, has secured a Series B financing round to fuel its growth and support its international development.
The company, founded by high school students back in 2000, is now a leading player in monetizing online and social games. Mediastay has a user base of 25+ million members and generated $25 million in revenue in 2010.
This financing round, provided by Iris Capital and Idinvest Partners, will allow the company to substantially grow its audience, especially through the launch of new web sites, Facebook and mobile applications, and to continue apace in developing its activities in Europe and in the United States.
“We are pleased to welcome highly-regarded investment firms Iris Capital and Idinvest Partners as new partners, alongside HighCo and Turenne Capital. Mediastay now has the capacity to substantially accelerate its expansion and benefit fully from its unique positioning in a market halfway between the very dynamic online gaming industry and the performance marketing sector,” said Mediastay CEO, Jerome Balmes.
Mediastay publishes both sweepstakes games (Kingolotto.com and Luckysurf.com) and casual games (Yacado.com, Diamondsquest.com). The games are monetized by lead generation, by the company’s own offer-based payment solution (OfferMatch) and by microtransactions.