Glu Mobile gets $7.75 million from Time Warner
Fourth round of funding sees mobile game publisher getting interest from the big boys
California-based mobile games publisher Glu Mobile has just completed its fourth round of funding, closing the round at $27.75 million - with $7.75 million being invested by media giant Time Warner.
The move will see Time Warner placing one of its executives on the board of Glu, with Turner Broadcasting domestic distribution president Andrew Heller being chosen for the role.
Time Warner is reportedly hoping to learn about the complex but rapidly growing mobile market through its investment in the firm, as Heller told FORTUNE magazine: "We wanted to get in now and watch and learn, and a company like Glu affords us the opportunity to do that."
However, the investment is described as being just that; Glu is not expected to have an inside track on any of Time Warner's valuable media properties in licensing deals, and nor will the company have to break off relationships with any existing licensors who are Time Warner rivals.