This week marks the UK launch of a new social betting game that we recently invested in called Pikum.com. In the words of Sir Richard "Pikum! is a completely new way to make bets...it's web-based and innovative; you can have fun making bets against your social network, not just the house. So the more friends you have, the bigger the pool!" We love Pikum and have had a great time working with Sean, Johannes and the entire team these past few months. Our investment thesis on Pikum at a high level is pretty simple. First and foremost, we invest in great management teams and Sean and Johannes are bar-none some of the best entrepreneurs in the business with many successes to date in the space. In addition, their product was and still is very compelling to us - combining office pool based betting on any measurable outcome with social networking tools and features is something very unique to the space that we haven't seen done right before. Finally, the casual gaming and egambling spaces continue to grow as more and more geographies open up their market to real money wagering. For all of these reasons and a few more finer points we felt the need to invest! Anyways, you can check out Richard and Helen Chamberlain's Pikums online now and head to the site and make some wagers. Again, we are open for real money wagering in the UK and are working off of a points based system if you bet from the US (sorry but it's not legal!).
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