If you’re an experienced entrepreneur struggling to raise VC money, you can start banging your head against the wall right … about … now.
Arjun Mehta, a little 6th grader from Northern California, just raised $6.5 million for his online gaming company, PlaySpan.
From alarm:clock:
“PlaySpan started in Arjun’s garage San Jose in 2006. Seed funding came from Arjun’s game challenge winnings at the 5th grade at Challenger School in San Jose. Today Arjun’s company announced that it has raised $6.5M in Series A funding led by Easton Capital land was joined by Menlo Ventures, STIC International out of South Korea and Novel TMT Ventures in Hong Kong.”
Wow.
This kid has got to have a wicked connected parent/uncle/cousin/someone. I don’t care how smart this kid is, no 11-year-old raises that kind of money without a little help from his friends. But I’m not hating on him. More power to him. If I had this opportunity when I was a kid, I’d be all over it.
I’m pretty sure I saw Arjun pitch a while back, and at the time his company made board games (I could be wrong). Since then his company has become, “the game industry’s first publisher-sponsored in-game commerce network”. It looks like little Arjun figured out how to adjust his company’s offering to match what the market is asking for. Not bad for someone who should be trying to figure out how to avoid being hit in dodgeball during recess.

Awesome!
Comment by Matt Bradley — September 20, 2007 @ 7:31 am