Facebook Has Acquired Madrid-based Cloud Gaming Startup PlayGiga

Facebook has achieved the PlayGiga which is a Madrid-based cloud gaming startup company. PlayGiga, today has confirmed about the deal to the CNBC, a week after the Cinco Dias reported that the Facebook was in talks to buy the PlayGiga for about €70 million.

According to the information provided by the Crunchbase, the PlayGiga was founded during 2013 and got the Series A funding from the Adara Ventures. In the month of May, the CEO named Javier Polo, on the MCV Develop write that the startup has been working with the Telcos to build the streaming game technology for the 5G which will aid the tech companies to reach several mobile gamers. Besides, it also had developed “gaming as a service platform” by using the Intel’s Visual Cloud platform which will activate the Telcos as well as the communication service providers to offer the streaming games to the customers.

Besides, the Facebook is also building the gaming business that it now demands has over 700 million users per month since it diversifies the revenue sources beyond the online advertising. Earlier of this year, the company added the Gaming hub to the main navigation menu of Facebook after launching it originally as the standalone app. The hub also includes livestreaming service that launched previous year to finish with the Twitch, Instant Games as well as posts from the gaming related pages. This company also had begun selling the Oculus Quest as well as the Rift headsets earlier in this year after achieving the Oculus for $2 billion in 2014.

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Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.

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