GameStop Hedges Bets With Kongregate Purchase

| | Comments (0)
GameStopRetailer GameStop announced that it has entered into an agreement to acquire Kongregate, a social gaming hub with myriad free-to-play games. launched in 2007, and is expected to remain under the leadership of co-founders Jim and Emily Greer when the acquisition closes on or around August 1. While the terms of the purchase were not disclosed, it is rumored that the purchase offers a significant return on the estimated $10 million that Kongregate had previously raised. From GameStop's perspective, this is clearly an effort on the part of GameStop to diversify from the used-game-sale model that dominates its business before publishers fully figure out how to put an end to the used games market.

Leave a comment

About this Entry

This page contains a single entry by Editor published on July 27, 2010 5:45 AM.

StarCraft II: Wings of Liberty Now on Sale was the previous entry.

Star Trek Online Experiences Season Two is the next entry.

Find recent content on the main index or look in the archives to find all content.


Add to Technorati Favorites