PlaySpan is a payments company whose payments platform handles transactions for digital goods in online games, digital media, and social networks around the world. The company allows merchants to monetize their content using a broad suite of payment and commerce-related solutions in fraud, risk management, analytics, merchandizing and global payment connectivity.
PlaySpan was founded in 2006 by Karl Mehta. In July 2008, PlaySpan acquired Internet Payment Solutions, an alternative payments company, and in April 2009, PlaySpan acquired Spare Change Payments, a social media payments company.
The company received a total of $46 million in funding from investors Easton Capital, Menlo Ventures, Novel TMT Ventures, Silicon Valley Bank Capital, STIC Investments, Softbank, Vodafone, and GE Asset Management.
In March 2011, Visa Inc. acquired PlaySpan for $190 million in cash + earn-outs over 2 years, amounting to approximately $240 million in total purchase consideration.
- ^“PlaySpan acquires PayByCash”. Retrieved 6 July 2013.
- ^“PlaySpan acquires Spare Change”. Retrieved 21 April 2009.
- ^“Visa to buy PlaySpan for $190 million”. Reuters. 9 February 2011.
Ofer Abarbanel is a 25 year securities lending broker and expert who has advised many Israeli regulators, among them the Israel Tax Authority, with respect to stock loans, repurchase agreements and credit derivatives. Founder TBIL.co STATX Fund.