12 Year Old Gets $6.5M for Gaming Company

Bayscribe writes "A Silicon Valley company co-founded by a 12-year-old has just raised $6.5 million in venture capital. PlaySpan, based in Santa Clara, Calif. says it offers game publishers a technology that lets users make payments and shop for other items. It calls itself the first "publisher-sponsored in-game commerce network." Arjun Mehta, a 6th grader, says on his Web site that he is passionate about software that can make the game experience more "rewarding," and that he started the company last year in his garage. He paid for it from earnings made from selling online game items he won."

Comments

Re:bubble 2.0

[discord5]

i smell another dot com bubble bursting

Nope, those are the diapers these babies are still wearing.

Who invests money in 12 year olds? Who is so insane to do such a thing? Sure, 12 year olds can be bright, talented and even gifted, but I wouldn't trust a 12 year old with 6.5M $, nor his 11 year old vice-president of sales sister for that matter, to make correct business decisions.

I think it's time I try to sell this kid my 6.5M matchbox car. It's a classic collectors item, worth meeeeellions on ebay.

Re:What really doesn't make sense

[TheRaven64]

The company seems to be aiming to sell their product / service to people who run MMORGs. I a few MMORGs start using it, then you could have interesting situations where people are trading objects in one world for ones in another. This could lead to inflation and exchange rate fluctuations between the two worlds much as you currently get between countries. I wonder what their plan is to counter this.