| Founded | 2002 |
|---|---|
| Founder(s) | Lorne Abony, Andrew Rivkin |
FUN Technologies was a listed company providing online games.
Founded in 2002 by Canadian businessmen Lorne Abony and Andrew Rivkin,[1] FUN grew to become the world's largest provider of online casual games and fantasy sports, 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.[2]
FUN was one of the fastest growing companies in the history of the Toronto Stock Exchange.[3] 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[4] in a transaction valuing the company at $484 million.[5]
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.[6]
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.[7] The SkillJam website used to have online games, including sudoku and chess,[8] Bejeweled 2, Zuma, Big Money! and Dynomite.[9]
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.[9]