The pieces of Google’s social-networking puzzle are slowly coming together. The latest snippet in the panoramic view is Jambool.
News reports indicate the search giant plans to purchase the virtual currency maker as it continues acquiring and investing in online companies that could form the foundation of what some are calling a Facebook killer.
As rumors abound and speculation grows, both Google and Jambool remain tight-lipped about the potential $75 million buy. But if Google plans to dominate social media with a strong gaming component, Jambool would help the company position itself as an end-to-end online gaming solution.
“Virtual currency has become an important component of online gaming. So I’m not surprised that Google would be considering such a move,” said Greg Sterling, principal analyst at Sterling Market Intelligence. “The company appears to be using gaming as the opening salvo in its new bid to build a social platform and combat what it perceives to be a growing threat from Facebook.”
Cloning Facebook Currency?
Jambool peddles a virtual economy platform called Social Gold that developers can use to create currency systems and monetize it using in-game payments. Founded by Amazon.com veterans, Social Gold also offers analytics.
Social Gold offers a virtual currency API that updates a user’s currency balance. Game developers can let users buy currency with a credit card. Developers pay between seven and 10 percent of each transaction to sell the virtual currency.
Social Gold is found in popular Zynga games like Mafia Wars to buy additional loot. Although Facebook hosts Zynga games that use Social Gold, Facebook also has its own virtual currency system called Facebook Credits. Facebook launched the system in 2009, but has recently started pushing it harder by giving away 20 credits (a $2 value) to people logging onto games.
The virtual currencies work much the same way, but Facebook…