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The Latest News on the Social Games Market in Europe and Emerging Markets

23Jun/10

Smeet Receives Additional Funding from Hasso Plattner Ventures and Partech

By Gary Merrett

Nearly 10% of Germany’s teenagers use the Smeet communication platform. The success within this age group and Smeet’s positive international development has convinced the investors from Hasso Plattner Ventures and Partech to continue and increase their investment. Smeet is a virtual world with aspects of social gaming. Users can create their own avatars and rooms as well as explore the different worlds. At the same time they can communicate with other Users via text and voice chat, watch YouTube-videos together, compete in various minigames and collect points to reach higher levels.

Hasso Plattner Ventures has been financing the company since the end of 2006. In May 2010, Hasso Plattner Ventures completed another round financing together with Partech amounting to a seven digit figure. Eran Davidson, CEO of Hasso Plattner Ventures, “…Smeet’s juvenile target group is particularly hard to please and expects innovations on a regular basis. Smeet continuously increases its user numbers, which is proof of the product’s high appeal and versatility. We trust that there will be further success.” Andreas Schlenker, Partech, reaffirms the renewed investment by saying, “We re-invest in Smeet, because after a strong start, we see tremendous growth potential based on the enormous innovative strength, the good management and the potential for a highly profitable and international business model.”

Young adults in France, Italy, Greece, Poland, Spain, Great Britain and Latin America actively use Smeet and thousands of new users register every day. During the past nine months, Smeet was able to record notably high growth. Strategic partnerships with big European social networks such as Netlog, Zoo and Fotka accelerated global development. Positive development as well as the potential for further growth has reassured investors to refinance. Smeet will use the financing to further develop the product and make the virtual world more attractive to customers. In addition, Smeet’s global development plan will focus on enhancing our current markets and expanding to new markets.

On the 30th June, Hasso Plattner Ventures will host the Annual Entrepreneurship Forum in Potsdam. The main topic will be China- A threat or an opportunity and it is expected that 250 high-ranking professionals and spokespeople will be in attendance. During the forum, Hasso Pattner will also present a live example of the Smeet platform.

2 Responses to “Smeet Receives Additional Funding from Hasso Plattner Ventures and Partech”

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  2. [...] battle for virtual world users goes into the next round. Last year SmallWorlds’ competitor Smeet received a €2.6m funding from Hasso Plattner. Today both companies focus more on games than on virtual hangouts. Both want to be perceived as [...]

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