June financing ahead of average: Financing in the Web 2.0 universe in June continued to be strong with total transaction value (excluding M&A) month-to-date of $291.8 million from 29 transactions, averaging $10.1 million each - led by the Zynga financing. In comparison, total capital raised in June 2009 was $225.2 million, averaging $4.6 million over 49 deals. Excluding Dec 09 and Apr 10, the average monthly total is $260 million.
Deals (M&A, Finance)
888 Holdings acquired online gaming company Mytopia for $18 mm.
In the second largest financing overall this year, Zynga (online gaming) raised another $147 mm from Softbank, bringing its total financing to $381 mm.
Cyberplex Inc. (TSX:CX) completed the acquisition of Tsavo Media, Inc. from Fountainhead Estate Holding Corp., American Capital Equity I of American Capital Equity Management LLC, and others on June 8, 2010.
NetDragon WebSoft, Inc. (SEHK:777), announced first quarter revenues of RMB 139,476,000 compared to RMB 173,898,000 for the same period a year ago. Profit before taxation was RMB 21,379,000 compared to RMB 53,502,000 for the same period a year ago. Profit for the period attributable to owners of the company was RMB 21,215,000 compared to RMB 48,943,000 for the same period a year ago. Diluted EPS was 4.03 cents compared to 9.31 cents for the same period a year ago.
Gravity Co., Ltd (NasdaqGM:GRVY) reported net income attributable to parent company was $337 million or $0.05 per share on total net revenues of $9,840 million compared to net income attributable to parent company of $4,649 million or $0.67 per share on total net revenues of $14,696 million for the same period a year ago.
Positive price performance
The Web 2.0 public company universe rose this week, with 56% of companies seeing their market cap rise vs. 36% falling and 8% flat.