VentureBeat said that HTML5 mobile games company Moblyng has shut its operations, with founder and CEO Stewart Putney saying that “we did not monetise enough to stay in business.”
According to the report, the company had started to generate traction for its games late last year, including launches on the Facebook HTML5 mobile platform. However, by this point it was too late, and the cash was running out.
Investors in Moblyng included Motorola Mobility Ventures and several private equity companies. It held a funding round early in 2011.
Putney told VentureBeat: “I am very proud of the work we did, the HTML5 games are still live and we have a growing base of active users. I remain very confident HTML5 will be a great platform for social games and media, it is simply a question of when. We just unleashed a group of kick-ass HTML5-focused professionals into the market, so my hope is they will help the HTML5 ecosystem develop that much faster.”