Daily Archives: May 8, 2012

Maija Palmer

Funding Circle, a UK-based online marketplace where individuals lend directly to small businesses raised $16m of Series B financing from joint investors Index Ventures and US-based Union Square Ventures. This brings the total amount raised by the company to $21m.  Launched in August 2010, the company now facilitates around £1m in loans each week. The company is planning to use the funds to double its staff over the next year.

Dragonplay, a Tel Aviv-based games developer raised $14m in a Series A funding from Accel Partners.  Dragonplay specializes in makes card, casino and board games for smartphones and social networks and is best known for Live Holdem Poker Pro, which has more than 2m monthly active players.  The company will use the investment to expand its portfolio of games. Read more

Richard Waters

With Yahoo’s board meeting to discuss the latest in a seemingly endless series of crises to overtake its top leadership, CEO Scott Thompson has issued an apology.

Not for the “inadvertent error” that led to his qualification-inflation. And not even for Yahoo’s overly casual use of that phrase last week, which was denounced by dissident investor Third Point as “insulting to shareholders.” Read more

Chris Nuttall

Electronic Arts has criticised its social gaming rival Zynga for paying high prices for “instant one-hit wonders” that give it a “temporary lead” in the charts.

John Riccitiello, chief executive, also used EA’s quarterly earnings call with analysts on Monday to argue the success of EA’s own digital and social strategy, defend falling subscriber numbers for its Star Wars online game and announce a big investment in next-generation console games. Details after the jump. Read more