Earlier in the week we reported that Google had acquired Jambool for $55 million plus another $15 million or so in incentives. Today, the company behind Social Gold officially confirmed the buyout, although the financial terms were not disclosed.
In an official Jambool blog post, the company founders stated, "We are excited to announce that Jambool is becoming a part of the Google family today. Jambool started as a social collaboration platform in 2006. In 2007, we shifted our focus to build applications on social networks. Along with success, we found fun and lucrative ways to monetize our apps – specifically virtual currency and goods. That led us to create a platform to help developers create, host, manage and monetize their virtual economies.
"Social Gold has grown by leaps and bounds since it went live in 2008. In the first half of 2010, we’ve processed more than double the entire payment volume we processed in all of 2009. And we’ve welcomed hundreds of developers to our platform. The fact that our highest revenue day was in the last week attests to the continued growth of online gaming."
Developers interested in working with Social Gold should also check out this FAQ post from Jambool regarding the acquisition.
