Gambit Payments - Crunchbase Company Profile & Funding

Overview

Gambit Payments

Heat Score

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Trend

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About Gambit Payments

Gambit is a payments solution for social networks, enabling game publishers to monetize their communities through direct payment methods.

Closed

Founded

obfuscation

Private

California City, California, United States

1-10

www.getgambit.com

Gaming

Payments

Social Network

Key People

Andrew Hunter: CEO
Past Role: Qype, CMO
Chris Smoak: CTO

Details

Operating Status

Closed

Company Type

For Profit

About the Company

Gambit is a payments solution for social networks.

Gambit enables game publishers to monetize their communities by connecting their users with direct payment methods (credit cards, PayPal, mobile payments), and with offers.

This is how it works:

1. A developer makes a game, and the game blows up with users.

2. The developer wants to

start making money from this game, and from the vibrant community that's grown around it, so he decides to incorporate a virtual currency system.

3. The developer integrates with Gambit for payments, and is instantly able to offer the game's community a way to pay for virtual currency.

4. Users are happy because they get to engage more deeply with their game.

5. The developer is happy because he makes money to grow the business.

Gambit makes the payments part easy so the developer can work on the fun stuff.

The company ran into problems in 2009 when it was sued by OfferPal ( http://techcrunch.com/2009/06/12/offerpal-sues-former-customer-kickflip-for-starting-competitive-service/ )

and then banned from Facebook ( http://techcrunch.com/2009/11/24/scamville-gambit-superrewards-facebook-zynga/ ) and seems to no longer be doing business.