Time Warner Inc. invests in LOTRO developer Turbine
Lord of the Rings Online and Dungeons & Dragons Online developer, Turbine Inc., today announced its success in raising $40 million in equity financing. In addition to operating a particularly ruthless lemonade stand, Turbine secured the funds via new investors Time Warner Inc. and GGV Capital (formerly Granite Global Ventures). "Turbine has an extraordinary team, incredible technology and a growing portfolio of games based on some of the most popular brands ever created," said president and CEO of Turbine, Jim Crowley. "With this funding we are uniquely positioned to change the future of online entertainment as we bring new titles to market, expand the platforms we support and introduce new technologies to sustain self-evolving game worlds."
New games and new technologies sound like responsible things to invest in, Mr. Crowley. Responsible, but boring. We would have gone for something like the world's biggest ice cream cake.
