By MIRI KARENBACH | SEPTEMBER 07, 2017 10:48:00 robinhood invests in many of the most popular online game developers, including Facebook, and is building its own game platform, called “robin,” which will be used for games with microtransactions.
It has raised $8.5 million in its latest round, and plans to spend $30 million on the platform over the next six years.
robin’s chief executive, Robyn Lipps, said in a statement that it was not the first time she had invested in a startup but the most successful.
“We think it’s a smart way to fund a business,” she said.
The company, which is focused on helping small businesses build their digital portfolios, has raised money from several angel investors including Kleiner Perkins, Kleiner Caufield & Byers, Andreessen Horowitz, and Sequoia Capital.
robins goal is to make the platform more efficient and scalable, she said, while also supporting its founders by providing a better platform for them to monetize their games.
roberts game platform will allow for a player to “pay a flat monthly fee to download a game, or for the developer to pay a small percentage of their revenue.” robans revenue will come from ad-supported microtransaction revenue and other sources.
The platform, which will debut later this year, will allow players to buy in-game items or cosmetic items, or to use real-world currency to pay for those items, the company said.
Players can also create their own custom characters and earn in-app currency for playing games.
“In addition to the revenue that we receive from our game platform and microtransactional offerings, our platform will also help to ensure that users have a great experience with the game they play,” the company added.
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