Tuesday, July 27, 2010
GameStop Buys Kongregate
Grapevine-based videogame retailer GameStop announced today that it has acquired Kongregate, a San Francisco firm which operates an online social gaming site and community. Financial terms of the buy were not disclosed. GameStop said the acquisition would strengthen its digital platform and to help it become the "gaming aggregator of choice." Kongregate was backed by Greylock Partners, Bezos Expeditions, and angel investors, including Reid Hoffman, the founder of LinkedIn. GameStop said that Kongregate will become a wholly owned subsidiary of the firm, and continue to operate out of San Francisco.