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Margaret Wallace Co-Founder / CEO margaret@rebelmonkey.com. Rebel Monkey. Casual Game House. Founded in 2007. Based in New York City. Focus on the “evolution of casual games”. Co-Founded by Nicholas Fortugno. 15-person studio on-site. Before Rebel Monkey. - PowerPoint PPT Presentation
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Founded in 2007Casual Game House
Focus on the “evolution of casual games”
Based in New York City
Co-Founded by Nicholas Fortugno15-person studio on-site
Rebel Monkey
Founding Member and CEO of Skunk Studios, San Francisco
Shockwave.com
Involved in Casual Games since 1997.
Before Rebel Monkey
Mattel, Mindscape, PF.Magic
• Casual Game Industry came out of DotCom bust. Online advertising had tanked – a few innovative people were trying different things to monetize content.
• Created the conditions whereby people had to figure out other ways to monetize content.
• Downloadables were one of those things and turned out to be hugely successful
• For a content maker, it was possible to make pretty excellent revenues on downloadable games.
• Touch on ways that content is funded routed in models developed around this time.
Shifting Landscape: Then
Shifting Landscape: Now• The space has become crowded, focusing generally on
the same audience with generally the same games.
• The production values are getting higher.
• Downloadable games are more expensive to make.
• The “shelf life” of downloadable games is down.
• Consolidation
• Easy Cloning
• Traditional funding models are not allowing content creators to try as many new things as they might like.
Funding Strategies• Boot-Strap
• Work-for-Hire
• Traditional Publishing
Funding Strategies
• Strategic Partnership
• Angel Investment
• Venture Capital
In Rebel Monkey’s Case…• Strategic Partnership for Downloadable
Games….
• But had a vision for a new product that focuses on a new audience and also on different monetization models.
• Pursued all the “likely suspects” to forge a partnership around this content –
• -- to no end…
What Did We Do?Raised a $1 Million Series A Round of Venture Financing
Global Venture Capital StatisticsSource: Adeo Ressi, Founder, TheFunded.com
• US$60 Billion Annually Invested Worldwide– America, Europe, Middle East, Asia
• 3,000 Companies Funded Annually
• 3,800 VC Firms
• 16,500 Professional Venture Capitalists
Why Redpoint Ventures?Excellent Track Record in Consumer-Facing Products
Extremely knowledgeable about our industry
Asked Tough but Informed Questions
Bring Enormous Amount of Expertise to Table
Deal Terms were Fair
Up Front & Honest
Why Redpoint Ventures?We like them!
They like us!
Passed the “The Camping Test”
Can you go camping for 3 days with your VC (or any business partner) and not want to kill each other?
Fouad ElNaggar, Principal, Redpoint
14
Low HighManagement Effort
25% 50%
Time to Close 4 mn 12 mnVCs Pitched 10 60Offers Received 1 5Equity Dilution 20% 45%Amount Raised $0.5 MM > $10 MM
Raising Venture CapitalSource: Adeo Ressi, Founder, TheFunded.com
Raising Venture CapitalExpect to take anywhere from a couple of months to 1 year to raise venture capital
Expect to talk with anywhere from 10 to 30 VCs
Your elevator pitch will definitely need refining and polishing. Have a few “practice” pitches with friendly VCs before hitting the road.
Expect everyone you’ve dealt with in the game industry will be asked for a reference.
Ideally, try to have more than 1 set of deal terms to choose from
Raising Venture CapitalFind a Good Attorney
Expect to pay both your attorney and your VC’s attorney
It’s better to be introduced than to cold-call
Be as educated as possible on all the terms – do not rely on your attorney
How Will VC Money Change the Landscape?
Foster innovation
Create independence
Grow the industry
Displace the traditional hierarchies
More Information on VCsCheck out TheFunded.com
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