In January 2014, Soshi Games successfully raised £285,000 to develop new games and expand its offering to more users.
There are over 100 music artists on Facebook and Twitter with more than 10 million fans, but currently the music industry has found very few ways to monetise such fanbases. At the same time, social networks have become the new playground for online gaming. Soshi Games was created to unite the world of digital music with the proven ability of mobile and online gaming to generate hundreds of millions of dollars per day in revenue. By February 2014, Soshi Games had accumulated 750,000 users.
The company was founded by Cliff Dennett, who has over 25 years’ experience in sales, IT operations, corporate strategy and innovation. Cliff has worked for organisations such as Orange Communications, EDS, AT&T and LEGO Labs.
The round was led by MidVen, an owner-managed VC firm that has been successfully investing in dynamic, small and medium-sized businesses since 1990.
Where are they now?
Soshi Games was placed into liquidation in September 2015. Shortly afterwards, CEO Cliff Dennett was kind enough to speak with SyndicateRoom, reflecting on what went wrong, and the things he’d do differently next time around.