Massively http://massively.joystiq.com Massively http://www.blogsmithmedia.com/http://massively.joystiq.com/media/feedlogo.gif Massively http://massively.joystiq.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Turbine hits $6.6m in $50m funding drive]]>http://massively.joystiq.com/2009/08/12/turbine-hits-6-6m-in-50m-funding-drive/http://massively.joystiq.com/2009/08/12/turbine-hits-6-6m-in-50m-funding-drive/http://massively.joystiq.com/2009/08/12/turbine-hits-6-6m-in-50m-funding-drive/#commentsFiled under: , , , ,


According to news site Gamasutra, US MMO giant Turbine have secured $6.6m worth of investment in a drive where they aim to get $50m in venture capital. Turbine are synonymous with the paid-going-free-to-play title Dungeons and Dragons Online as well as the ever popular Lord of the Rings Online. They are also an independent company, which is where the investment side of things comes in, as in order to run the games they need the financial backing of other companies to survive. Given they are not a giant company like Blizzard Entertainment, it's an interesting glimpse into how the MMO industry can work.

The info comes by way of an eleven page Form D (which you can read here) filed to the US Securities and Exchange Commission (SEC) on August 10th. The document outlines info on the company, its director, their investors who include Highland Capital Partners, Tudor Ventures, Columbia Capital, and Granite Global Ventures and the amount of money involved. While the document is quite dry and filled with boring facts, it's good to know big businesses are acknowledging the roles MMOs have and how this is affected by their increasing mainstream popularity.

MassivelyTurbine hits $6.6m in $50m funding drive originally appeared on Massively on Wed, 12 Aug 2009 10:00:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>ddodungeons-and-dragons-onlinefinanceform-Dlord-of-the-rings-onlinelotrommo-industrynewsSECturbineturbine-entertainmentturbine-incWed, 12 Aug 2009 10:00:00 EST<![CDATA[Official word: Perpetual lives, STO "still a triple-A game"]]>http://massively.joystiq.com/2007/11/30/official-word-perpetual-lives-sto-still-a-triple-a-game/http://massively.joystiq.com/2007/11/30/official-word-perpetual-lives-sto-still-a-triple-a-game/http://massively.joystiq.com/2007/11/30/official-word-perpetual-lives-sto-still-a-triple-a-game/#commentsFiled under: , , , , ,

There has been a lot of confusion with regards to the fate of Perpetual Entertainment and Star Trek Online over the past few days. First, an SEC report was filed by Gravity that appeared to say that Perpetual Entertainment was liquidating all assets and would cease to exist as a company. Then, Shacknews ran a story claiming that STO had been bought and would be re-invented as a "more casual" experience.

Star Trek Online's Executive Producer Daron Stinett addressed panicked fans, saying that not all is as it seems. We have the lowdown here for you. The heart of the matter: it appears that STO has not been canceled or nerfed after all --at least not to the degree that we feared. That said, here's the full story so far.

Continue reading Official word: Perpetual lives, STO "still a triple-A game"

MassivelyOfficial word: Perpetual lives, STO "still a triple-A game" originally appeared on Massively on Fri, 30 Nov 2007 07:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>breakingbusiness-modelscasualdaron-stinettgamestopgods-and-heroesgravityperpetual-entertainmentpublisherrazorwiresecshacknewsstar-trek-onlinestoFri, 30 Nov 2007 07:30:00 EST<![CDATA[Perpetual disbanding, STO in jeopardy [Updated]]]>http://massively.joystiq.com/2007/11/26/perpetual-disbanding-sto-in-jeopardy/http://massively.joystiq.com/2007/11/26/perpetual-disbanding-sto-in-jeopardy/http://massively.joystiq.com/2007/11/26/perpetual-disbanding-sto-in-jeopardy/#commentsFiled under: , , , ,

South Korean company Gravity was forced in a mandatory SEC report to spill the beans that Perpetual Entertainment is seeking liquidation of all its assets and will soon cease to exist as a company. Gravity had to disclose this information in compliance with US law to inform its shareholders that it stands to lose $9 million in investments in Perpetual Entertainment due to the company's failure.

Perpetual Entertainment filed for liquidation on the 10th of October, just a day after it announced the cancellation of its Gods & Heroes project. While appearances are that Star Trek Online has remained in some kind of development (however limited) in the short term, Perpetual will soon be forced to sell all its assets to pay off its debts.

That means that either Star Trek Online is due for cancellation, or the project will be sold to a new development studio. Perpetual's continued work on STO is evidence that it at least hopes to keep the project alive by handing it off to another company. We don't know if Perpetual already has a buyer lined up or which company that buyer would be.

[EDIT: WarCry's Razor has suggested that the SEC report is misleading and that this was just a part of the process of ending development of Gods & Heroes. His suggestion might be worthy of consideration, but there is not yet enough evidence behind it for us to call this a false alarm. We've sent an e-mail to our press contacts at Perpetual Entertainment for clarification and when/if we get a statement, we'll let you know.]

MassivelyPerpetual disbanding, STO in jeopardy [Updated] originally appeared on Massively on Mon, 26 Nov 2007 15:30:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bankruptcybreakingbusinesscancellationchapter-11gods-and-heroesgravityindustryliquidationperpetualperpetual-entertainmentsecstar-trekstar-trek-onlinestoMon, 26 Nov 2007 15:30:00 EST