Sources inform ''Globes'' that in-game advertising company Double Fusion Inc. is firing 15% of its employees. The company has 35 employees. Headquartered in San Francisco, it has an R&D center in Israel, and offices in Los Angeles, New York, and London.
Three Israeli entrepreneurs founded Double Fusion in 2004 at Jerusalem Venture Partners' JVP Media Studio incubator in Jerusalem: CTO Hillel Rom, Ofer Rundstein, and Guy Bendov. Jonathan Epstein is the CEO.
Double Fusion's product enables the placing of regularly updated advertisements on computer games, which gamers can watch while playing. The company competes with giants, such as Microsoft Corporation (Nasdaq: MSFT), which acquired video game advertising developer Massive Inc. for $200-400 million, and Google Inc. (Nasdaq: GOOG), which acquired AdScape Media Inc. for $23 million.
Double Fusion has raised $37.2 million to date in three financing rounds.
The company declined to comment on the report.
Published by Globes [online], Israel business news - www.globes-online.com - on November 16, 2009
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