Palo Alto based Social Gaming Network was spun off from Freewebs in December 2007 and develops games for social networks including Facebook, Bebo, MySpace and Hi5. The company first came to prominence with their first Facebook game, Warbook.

Social Gaming Network said they would use the funding to increase research and development of its gaming platform, and to “produce more tools for social game developers who want to create a richer gaming experience on the social networks and the social web.”

The announcement follows news May 8 of SGN competitor Serious Business taking $4 million.

Facebook Game Developer Social Gaming Network Takes $15 Million is a post from: The Inquisitr

Serious Business is run by former Powerset engineer Siqi Chen, and according to the companies website (likely in jest, but remember they just took $4 million):

“Serious Business leverages the core competencies of our world renowned team to create revolutionary new synergies which tap in to blue ocean markets in the social platform mashup internets. Serious Business will forever redefine the way we use the web – even the way we see life itself. The first decade of the internet was fun. This decade is going to be Serious.”

Their only product, Friends for Sale, has 799,952 daily active users according to Facebook. The Serious Business website mentions two other projects/ games being developed without providing details.

(via PEHub)

The Company Behind Friends For Sale Takes $4 Million is a post from: The Inquisitr