4 Jordanian Gaming Startups Go Out of Business: Wizards Productions, Aranim, CrownIT Games and Taktek Games
Last year has been a tough year for Jordanian gaming companies as around December 2012 4 companies shut down their operations and went out of business these companies are Wizards Productions, Aranim, CrownIT Games and Taktek Games.
Wizards Productions were one of the promising gaming startups it received funding from IV holdings and former VP Yahoo and current chief of Oasis 500 Osama Fiyad. We talked to Sohaib Thiab cofounder of Wizards he said “we switched to mobile but didnt get a chance to prove that its a good switch despite the fact that our 1st mobile game Aqua jam got 100,000 downloads in the 1st week and we could not raise more funding in time, maybe if we had more time we could have”. The company develops Arabic and English social and MMO games launched the first Arabic MMO 3D in browser facebook game titled Operation Arabia in July 2011. That came was a complete failure and did not gain traction. As it seems the company wasted their resources on developing that game.
Aranim was founded by the son of Jordan’s former prime minster “Suleiman Bakhit” developed comics and has social games it has funding from angle investor and CEO of Aramex Fadi Ghandour.
Arab Gaming new blog from gaming platform Game Tako says there are 3 reasons for this:
1-low management skills, wrong decisions and dealing the employees in a bad way
2- An Investment environment that does not understand the gaming industry,
3- low level of experience in all fields of gaming development from design to production to marketing.
It was not only Jordanian gaming startups are closing others in Egypt and UAE has closed down,
This event will for sure make investors more hesitant to invest in gaming startups which means it would be hard for Jordanian and Arab gaming startups to raise funding.
#image curtsy: reinvented .