PapayaMobile Raises $4M

PapayaMobile, a Beijing, China- and Menlo Park, CA-based company that provides users and mobile developers with an open mobile social network and gaming platform, has closed a $4m funding.
The round was led by venture capital firm DCM.
This infusion will help the company increase its developer community, further develop its social and gaming mobile applications, and expand the management team.
PapayaMobile provides third party developers with an open-API, cross-platform mobile social networking service (SNS) focusing on social games and virtual goods. Developers can also utilize Papaya Social SDK for Android devices, which allows them cross promote applications and make extra revenue from the virtual currency system.
As a complement to the Social SDK, which was launched today, the existing Papaya Offer SDK provides an effective way to lower any game developers’ customer acquisition cost.

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