FUN Technologies
Encyclopedia
FUN Technologies was a listed company providing online game
s.
Founded in 2002 by Canadian businessmen Lorne Abony
and Andrew Rivkin
, FUN grew to become the world's largest provider of online casual game
s and fantasy sport
s, with over 35 million registered customers. FUN was publicly traded with a full listing on the London Stock Exchange
in 2003 and Toronto Stock Exchange
in 2004. Abony was its Chief Executive Officer when FUN was listed on the TSX, making him the youngest CEO of any company listed on the exchange.
FUN was one of the fastest growing companies in the history of the Toronto Stock Exchange. In less than three years, the company raised over $160 million in five rounds of equity financings, including its IPO. FUN completed eight strategic acquisitions for a total consideration of $128 million. In March 2006, American media giant Liberty Media
acquired FUN in a transaction valuing the company at $484 million.
In September 2006 FUN Technologies held the first WorldWide Web Games
, with a $1 million prize. The competition had 71 contestants and featured the casual games Bejeweled 2
, Solitaire
, and Zuma
.
SkillJam, founded by Justin Beckett
in 2002 and based in Los Angeles
, California
was acquired by FUN Technologies in 2004 and relocated to Newton, Massachusetts
. The SkillJam website used to have online game
s, including sudoku
and chess
, Bejeweled 2, Zuma, Big Money! and Dynomite
.
In 2006 FUN acquired its competitor WorldWinner, an established tournament
games platform with a portfolio including Scrabble
Cubes, solitaire
and Luxor
. It merged SkillJam into WorldWinner in 2007, dropping the SkillJam brand.
Online game
An online game is a game played over some form of computer network. This almost always means the Internet or equivalent technology, but games have always used whatever technology was current: modems before the Internet, and hard wired terminals before modems...
s.
Founded in 2002 by Canadian businessmen Lorne Abony
Lorne Abony
Lorne Abony is a Canadian businessman. He is Chairman and CEO of Mood Media Corporation a public company listed on the Toronto Stock Exchange and the London Stock Exchange. Mr. Abony has been instrumental in the founding of a number of media ventures...
and Andrew Rivkin
Andrew Rivkin
Andrew Rivkin is a Canadian investor and businessman. Rivkin is best known as a co-founder of CryptoLogic, a pioneering online casino software company, and FUN Technologies, the world's largest provider of online casual games and fantasy sports.Rivkin was born and raised in Toronto...
, FUN grew to become the world's largest provider of online casual game
Casual game
A casual game is a video game targeted at or used by a mass audience of casual gamers. Casual games can have any type of gameplay, and fit in any genre. They are typically distinguished by their simple rules and lack of commitment required in contrast to more complex hardcore games...
s and fantasy sport
Fantasy sport
A fantasy sport is a game where participants act as owners to build a team that competes against other fantasy owners based on the statistics generated by the real individual players or teams of a professional sport...
s, with over 35 million registered customers. FUN was publicly traded with a full listing on the London Stock Exchange
London Stock Exchange
The London Stock Exchange is a stock exchange located in the City of London within the United Kingdom. , the Exchange had a market capitalisation of US$3.7495 trillion, making it the fourth-largest stock exchange in the world by this measurement...
in 2003 and Toronto Stock Exchange
Toronto Stock Exchange
Toronto Stock Exchange is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalisation. Based in Canada's largest city, Toronto, it is owned by and operated as a subsidiary of the TMX Group for the trading of senior equities...
in 2004. Abony was its Chief Executive Officer when FUN was listed on the TSX, making him the youngest CEO of any company listed on the exchange.
FUN was one of the fastest growing companies in the history of the Toronto Stock Exchange. In less than three years, the company raised over $160 million in five rounds of equity financings, including its IPO. FUN completed eight strategic acquisitions for a total consideration of $128 million. In March 2006, American media giant Liberty Media
Liberty Media
Liberty Media Corporation is an American media conglomerate and the control is exercised by company Chairman John C. Malone, who owns a majority of the voting shares....
acquired FUN in a transaction valuing the company at $484 million.
In September 2006 FUN Technologies held the first WorldWide Web Games
Electronic sports
Electronic sports comprises the competitive play of video games. Other terms include competitive gaming, professional gaming and cybersports...
, with a $1 million prize. The competition had 71 contestants and featured the casual games Bejeweled 2
Bejeweled 2
Bejeweled 2 is a web-based game, sequel to Bejeweled, developed and published by PopCap Games. In 2004, Bejeweled 2 Deluxe was released. They both add extra game modes and features to the game. Bejeweled 2 Deluxe, like all PopCap titles, is available on a "try before you buy" basis...
, Solitaire
Solitaire
Solitaire is any tabletop game which one can play by oneself or with other people. The solitaire card game Klondike is often known as simply Solitaire....
, and Zuma
Zuma (computer game)
Zuma is a fast-paced puzzle game developed by PopCap Games. It can be played for free online at several Web sites, and can be purchased for a number of platforms, including PDAs, mobile phones, and the iPod...
.
SkillJam, founded by Justin Beckett
Justin Beckett
Justin Beckett is an American entrepreneur, philanthropist and author. He is founder and chief executive officer of affinitytv247.- Investment Management :...
in 2002 and based in Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, California
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
was acquired by FUN Technologies in 2004 and relocated to Newton, Massachusetts
Newton, Massachusetts
Newton is a city in Middlesex County, Massachusetts, United States bordered to the east by Boston. According to the 2010 U.S. Census, the population of Newton was 85,146, making it the eleventh largest city in the state.-Villages:...
. The SkillJam website used to have online game
Online game
An online game is a game played over some form of computer network. This almost always means the Internet or equivalent technology, but games have always used whatever technology was current: modems before the Internet, and hard wired terminals before modems...
s, including sudoku
Sudoku
is a logic-based, combinatorial number-placement puzzle. The objective is to fill a 9×9 grid with digits so that each column, each row, and each of the nine 3×3 sub-grids that compose the grid contains all of the digits from 1 to 9...
and chess
Chess
Chess is a two-player board game played on a chessboard, a square-checkered board with 64 squares arranged in an eight-by-eight grid. It is one of the world's most popular games, played by millions of people worldwide at home, in clubs, online, by correspondence, and in tournaments.Each player...
, Bejeweled 2, Zuma, Big Money! and Dynomite
Dynomite
Dynomite! is a PC game developed by both Raptisoft Games and PopCap Games. Its gameplay is largely similar to that of the Puzzle Bobble series, but it has several unique differences.- Endless Puzzle :...
.
In 2006 FUN acquired its competitor WorldWinner, an established tournament
Tournament
A tournament is a competition involving a relatively large number of competitors, all participating in a sport or game. More specifically, the term may be used in either of two overlapping senses:...
games platform with a portfolio including Scrabble
Scrabble
Scrabble is a word game in which two to four players score points by forming words from individual lettered tiles on a game board marked with a 15-by-15 grid. The words are formed across and down in crossword fashion and must appear in a standard dictionary. Official reference works provide a list...
Cubes, solitaire
Solitaire
Solitaire is any tabletop game which one can play by oneself or with other people. The solitaire card game Klondike is often known as simply Solitaire....
and Luxor
Luxor (video game)
Luxor is a game and series of action-puzzle computer games, developed by MumboJumbo, with the first initial release in 2005. The first sequel to this game was Luxor 2, which was released in 2006 and included new gameplay, levels and bonus. After that came Luxor 3, which featured 7 gameplay modes...
. It merged SkillJam into WorldWinner in 2007, dropping the SkillJam brand.