MegaFans Raises $1 Million in Pre-Seed Funding
CARLSBAD, Calif., February 27, 2020 (Newswire.com) - MegaFans (Mobile eSports Gaming Fanatics), a San Diego-area-based mobile eSports platform and gaming company has raised $1 million (USD) in pre-seed funding; $500K in private placement and a $500K line of credit through a private lender. The funds are being used to expand and scale MegaFans' footprint and user base, continue developing their eSports platform, add new games and tournaments to feed the fast-growing, global mobile gaming market.
MegaFans' veteran team has been working on the mobile gaming industry’s problems, such as retention, monetization and the lifetime value of mobile gamers, since the company’s inception. eSports solve for these problems by offering a more competitive and social gaming experience, along with prizes and cash pools that create an attraction of their own to certain players. However, eSports has its own issue in the more casual, mobile gaming environment. Getting players to move over to a pay-to-play model only produces about 2%-10% of active paying users, leaving approximately 90% un-monetized in this channel. MegaFans solved for that using a unique model, combining existing best practices from other areas of the eGaming industry.
MegaFans has been developing and testing their novel approach to the eSports industry since 2017 and currently owns 15 game titles, offering tournaments and events available to the 2.5 billion daily active users playing mobile games around the world. “Anyone, anywhere, anytime can play to win,” stated Jeffrey Donnelley, founder and CEO. “Our platform offers free to play and pay to play games with the capability to target and cater to them by geographic, demographic and psycho-graphic behavior – It’s a powerful approach that is appropriate from a business perspective, for this [mobile eSports] niche.”
MegaFans Inc. is a mobile eSports gaming platform company that created a fully integrated, turnkey software solution for mobile games, enabling them to offer competitive eSports tournaments to their audiences, which increases retention and monetization through a richer, more inclusive experience for 2.5 billion gamers globally.
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Media Contact:
Jeffrey Donnelley
+1 (760) 889-3187
jeff@megafans.com
Source: MegaFans
