Apple Thoughts: Even Venture Capitalists Like Games

"If anyone had doubts about the viability of a business that is purely focused on making videogame applications for Apple's iPhone and iPod Touch, venture capitalists aren't among them. Ngmoco, known for iPhone games like puzzle-adventure game Rolando and word game WordFu, said on Monday that it raised $10 million in a new round of financing led by Norwest Venture Partners."

It doesn't hurt to have the connections that Neil Young, the founder of Ngmoco, has when you are looking for investors. Young was a longtime executive at Electronic Arts before he quit EA last year to start Ngmoco. He expects to launch at least 15 premium games, priced between $5.00 USD and $10.00 USD, this year to go along with the 5 they released last year. I guess the VCs are expecting big things with the games, and can hardly blame them since out of the 25,000 apps available on iTunes, almost 7,000 of them are games.