MARINA DEL REY, Calif. - (Business Wire) Six Degrees Games, Inc., a publisher of online sports entertainment, including the tween and teen sports destination, ActionAllStars.com, announced today that it has raised $7 million in equity financing. Time Warner Inc. (NYSE: TWX) led the investment along with current investors, Clearstone Venture Partners and Prism VentureWorks. The additional funding will be used to accelerate Six Degrees Games’ growth in the sports entertainment space and to enhance in-house development capabilities. “This has been a great year for Six Degrees Games,” said Minard Hamilton, CEO and co-founder along with President of Six Degrees Games, Ben Jones. “Our success since launching early this year shows there’s clearly a demand from sports fans for new immersive ways to engage their passions for sports. Time Warner shares our vision and brings an unparalleled portfolio of sports and kids properties to the table.”
With more than a million Athletes created every month, ActionAllStars.com is the premiere online sports entertainment destination for tweens and teens featuring official marks and virtual brands from partners, such as the National Basketball Association (NBA.com) and Major League Baseball Advanced Media (MLB.com).
"Time Warner is always interested in identifying, creating and distributing compelling content that consumers will find engaging,” said Rachel Lam, Senior Vice President and Group Managing Director of Time Warner Investments. “ActionAllStars.com provides a unique, immersive experience for young people who are interested in sports and games, and is an attractive extension to some of our brands, including Cartoon Network, Turner Sports and Sports Illustrated for Kids. In addition we are intrigued by Action AllStars' virtual goods-based business model, which is a fast-growing new avenue to monetize high-quality virtual content."
Six Degrees Games, Inc. also announced today that Paul Condolora, SVP Digital at Turner Broadcasting, will join its board of directors.
About Action AllStars™
Action AllStars™ (www.actionallstars.com) is a sports entertainment site designed for tweens and teens. Along with partners, including the National Basketball Association (NBA.com) and Major League Baseball Advanced Media (MLB.com), Action AllStars provides both the casual and hardcore fan the ability to play games, compete with friends, customize their experience and to socialize with other fans across the globe. To play free online games and to join the Action AllStars community today, visit www.actionallstars.com.
About Clearstone Venture Partners
Clearstone Venture Partners is an early stage venture capital firm with offices in Santa Monica, CA, Menlo Park, CA, and Mumbai, India. Clearstone has a proven track record of developing market-changing consumer internet companies, including: PayPal, NetZero, Overture and CarsDirect. The firm has $650 million under management and is focusing investments in its third fund on seed and early stage companies in the United States and India. For more information, visit: www.clearstone.com.
About Prism VentureWorks
Prism VentureWorks is an early stage venture capital firm focused on disruptive segments in the Digital Media, Software & Services and Life Sciences sectors. The firm represents a committed team of early-stage investors whose industry operating heritage and domain depth make them valued partners among entrepreneurs and syndicates in building successful businesses. Founded in 1996, the Firm has approximately $1.25 billion in capital under management with offices in Needham, MA and Venice, CA. For more information, visit www.prismventure.com.
About Time Warner Investments
The Time Warner Investments group targets non-control strategic investments that have a clear impact on Time Warner's divisional operations and directly enhance the Company's ability to meet specific strategic goals. Time Warner Inc. is a leading media and entertainment company, whose businesses include interactive services, filmed entertainment, television networks and publishing. For more information, please visit: www.timewarnerinvestments.com.
The NBA and individual NBA member team identifications used on or in this product are trademarks, copyrighted designs and other forms of intellectual property of NBA Properties, Inc. and the respective NBA member teams and may not be used in whole or in part, without the prior written consent of NBA Properties, Inc. © 2009 NBA Properties, Inc. All rights reserved.
All Major League Baseball trademarks, service marks and copyrights used herein are the property of the applicable MLB entity. All rights reserved.
Copyright © 2009 Six Degrees Games. All Rights Reserved.
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Six Degrees Games
Timothy DaRosa
(773) 391-1865
tim@sixdegreesgames.com
