It’s a good thing for Kleiner Perkins Caufield & Byers that Bing Gordon really likes online video games. That made the venture firm into the biggest winner in Zynga Inc.’s initial public offering, poised to turn a $35 million investment into about $650 million.
Ouya Inc., the maker of a $99 video- game console that uses Google Inc.’s Android operating system, raised $15 million in venture funding to expand operations. Industry pioneer Bing Gordon joined its board.
John Doerr, the lead partner at venture capital powerhouse Kleiner Perkins Caufield & Byers, is joining Zynga Inc.’s board of directors, bolstering governance at the game maker as it seeks to revive growth.
Zynga Inc. vice presidents Bill Mooney and Brian Birtwistle have departed, following other top managers amid slowing sales and a stock decline at the biggest maker of social games on Facebook Inc., a person with knowledge of the matter said.
Mary Meeker predicted a $50 billion online advertising boom in an address at the annual Web 2.0 Summit in San Francisco today. The Morgan Stanley analyst said as well that mobile commerce may gain market share faster than traditional online retailing.
Zynga Inc., the biggest maker of games on Facebook, may file for an initial public offering by the end of June to capitalize on investors’ demand for shares of social-media startups, a person familiar with the plans said.
Kleiner Perkins Caufield & Byers, the venture capitalists that backed Google Inc. and Amazon.com Inc., raised $525 million for investments in startups focused on digital technology, alternative energy and life sciences.