US-based social network platform MocoSpace acquired location-based social games platform Geocade on 3rd October for an undisclosed amount. Geocade founder Jim Caralis will join MocoSpace as vice president of the firm’s HTML5 game platform.
Mocospace’s platform has been funded to the tune of $2m, which Mocospace is offering to developers to build mobile games. Mocospace will incorporate Geocade’s location-based capabilities into its games, starting with Rise to Fame, which was launched last week. Players will need to check into different locations in order to unlock roles within the game.
The two companies plan to merge their platforms, offering developers the same features on each and access to the audiences of both.
Mocospace has been financed by venture capital (VC) group Softbank Capital, which invested $3.5m in September 2010. Additionally, VC firms General Catalyst Partners and the Pilot Group, and former eBay executive Michael Dearing all participated in MocoSpace’s $3m series A round.
Justin Siegel, chief executive officer of MocoSpace, said: "The Geocade acquisition furthers our aggressive push into mobile social gaming, which has been a major success for our company in a relatively short time. In less than a year we’ve launched twenty HTML5 games. Now thanks to Geocade, we plan to expand our leadership in the mobile HTML5 space with an ambitious roadmap for our platform."