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Gambling on Social Games

31 Oct 2009 @ 11:52 AM

What’s former MySpace CEO Chris DeWolfe up to these days? He wants to be the next big name in the social-gaming craze, we hear.

In late July, TechCrunch floated a report that DeWolfe was hitting up big private equity outlets to amass cash, at least $100 million, for a new venture that would involve “a roll-up of an Internet industry vertical,” but TechCrunch didn’t specify what that sector was. Three months prior, DeWolfe had been ousted from the troubled MySpace and replaced by former Facebook executive Owen Van Natta.

Former MySpace CEO Chris DeWolfe

(Credit: Michelle Meyers/CNET)

Now, several well-placed sources have told CNET News that DeWolfe intends to make a move in social gaming, a red-hot space currently dominated by the Mark Pincus-headed Zynga, and that his “roll-up” plans involve buying up a number of smaller social gaming companies so that he and Pincus can go directly head-to-head.

Multiple sources have indicated that DeWolfe is working on this new venture with Aber Whitcomb, who left his role as the News Corp.-owned MySpace’s chief technology officer in late September.

Posted By: ecomtech
Last Edit: 31 Oct 2009 @ 11:52 AM

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Tags: Aber Whitcomb, Chris DeWolfe, Facebook, MySpace, MySpace CEO Chris DeWolfe, News Corporation, Owen Van Natta, Social network
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