Google To Acquire Jambool for $70 Million
By on August 11th, 2010

Jambool - Social GoldGoogle is on an acquisition spree right now. After the official announcement that it had acquired Slide, there has been speculation that it has now acquired Jambool, a social gaming monetization startup for about $70 million.

Jambool runs Social Gold, a virtual goods monetization platform which enables developers to manage their own virtual currency in their games. It also allows developers to get detailed analytics about your in-game virtual economies. Social Gold is used by many online games; but it was hit hard by the launch of Facebook Credits, the official virtual currency of Facebook.

Jambool was founded by Vikas Gupta and Reza Hussein, two Indian developers who were previously working at Amazon.

Google is desperate to crack the social networking market and social gaming is probably the best way to do it. It has reportedly set its sights on Facebook and is planning to launch a Facebook competitor codenamed “Google Me”.

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