California-based Moblyng has announced their closure following a failure to “monetize enough to stay in business.” The company has laid off a total over 20 employees, and will permanently shut its doors. The statement comes from CEO Stewart Putney, who helped pave the way for several companies to focus on true cross-platform development with the promising HTML5 technology.
Moblyng, founded in 2005, sought to capitalize on HTML5 technology, a platform that continues to look promising as the next big tech for mobile and social game development. Putney believes that the tech is still viable, saying that "I am very proud of the work we did, the HTML5 games are still live and we have a growing base of active users. I remain very confident HTML5 will be a great platform for social games and media, it is simply a question of when."
Seeing well over $10 million in funding, the company helped to develop multiple titles for Facebook and mobile devices. The company also worked as a toolset partner with Playdom and Lolapps, working to bring games to the iPhone and Android devices.
The work was not, however, able to bring in enough hits to keep the company afloat.
[Thanks VentureBeat]
