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Turbine CEO Jim Crowley on New Investors

Posted Jun 06, 2008 by Jon Wood

Turbine CEO Jim Crowley on New Investors

Recently, it was announced that Turbine would be receiving $40 million in equity financing from two different companies, GGV Capital and media giant Time Warner. Managing Editor Jon Wood caught up with Turbine president and CEO Jim Crowley to talk about what the announcement means and a little bit about the future of the company.

Recently Turbine, the company behind Asheron’s Call, Dungeons and Dragons Online and Lord of the Rings Online, announced that they have raised $40 million in equity financing from two companies; the first is GGV Capital, a “leader in expansion-stage venture capital investments”. The second, and more recognizable new investor is media giant Time Warner.

“This is truly an exciting time for Turbine. The addition of Time Warner, one of the world’s largest media companies, and GGV Capital, one of the financial community’s most sophisticated investors, adds a level of access, perspective and experience to Turbine that is singularly unique in the global online entertainment space,” said Jim Crowley, president and CEO of Turbine, Inc. in the announcement press release. “Turbine has an extraordinary team, incredible technology and a growing portfolio of games based on some of the most popular brands ever created. With this funding we are uniquely positioned to change the future of online entertainment as we bring new titles to market, expand the platforms we support and introduce new technologies to sustain self-evolving game worlds.”

Read the whole article here.


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