Online fun a money-spinner
Game that teaches children about music can be a major money-spinner, believes entrepreneur Chris White, founder of Big Little Bang, an online 3D virtual world for children aged 7 to 14.
MTV Networks paid US$160 million for Neopets in 2005. Two years later Disney bought Club Penguin in a deal valued at US$700 million (US$350 million upfront, with the remainder dependent on the online game achieving revenue targets). In Britain, Moshi Monsters is estimated to be worth US$200 million ($242 million) after a founding director sold his stake in the company last year.
These are the sort of numbers that White believes will fire investor enthusiasm as he seeks expansion capital to further develop Big Little Bang, particularly in the United States. Stephen Tindall’s K1W1 fund and angel investor Sparkbox Ventures provided initial seed capital, and have committed to the expansion capital round. Other angels provided additional funding to develop the prototype into a commercial game, which launched in July.
It now has more than 31,000 players, more than half of them American children, despite the game only becoming available state-side before Christmas. White is now in the US seeking “accelerators and incubators” to help fast-track Big Little Bang’s growth.
“We’re looking to hit the break-even point in the next 18 months and at that point really accelerate our growth to hundreds of thousands of new users each month,” says White.
White’s game is about socialising and creating music in space, using planets, rocket ships and musical wormholes. As a former music teacher, this website strikes me as an astonishing amalgam of creativity and commercial exploitation. It comes as no surprise to learn that Mike Chunn, music legend and advocate for making music the building block of learning, was involved at an early stage.
The Big Little Bang idea is a great example of the creative fostering that is now embedded in New Zealand corporate culture.
White, who has a master’s degree in creative arts and a bachelor of science, has been through the Spark programme, was adopted by the Icehouse business incubator (“I had access to the executive in residence”) and was assisted in forming relationships with the Massachusetts Institute of Technology and the University of Santiago.
Revenue is rising and he’s confident a bright future awaits.
First published in the New Zealand Herald on Monday February 6 2012
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