Top European VC firm Balderton today has confirmed that it is ditching a 13 percent stake in Finnish social networking and virtual world company Sulake, creators of Habbo, after the youth-oriented site was exposed for hosting illicit content not appropriate for its intended users. Balderton had been an investor in Sulake for the past eight years and together with other backers had invested some $35 million in the site.
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Sulake, the Finnish parent company of youth-oriented community site / social game Habbo Hotel, recently landed in a massive media shit storm after evidence of the presence of sexually explicit... Read Post
Sulake, the developers behind the children's virtual world Habbo Hotel, is preparing to reopen its chatrooms once again after a week in which it was exposed for hosting inappropriate sexual content on the site, prompting the company... Read Post
Finnish telecom and ICT company Elisa has acquired Sulake, the company behind the youth-oriented community site / social game Habbo Hotel (via ArcticStartup). Not a lot of financial terms of... Keep reading ? Read Post