ngmoco … really worth $400m? Hmm

Another interesting post from Dan Lee Rogers on whether the money paid for ngmoco last year was reasonable.

(hint: Dan is clearly rather doubtful, IMHO with good reason) E.g. …

Further, Ms. Namba stated that DeNA’s purchase decision was based ngmoco’s ability to create hit iPhone games, which begs the question: what hit games? The ones they were giving away for free or the ones they lost money selling?
…
Perhaps ngmoco showed DeNA some sort of new-fangled accounting scheme to justify their purchase price? Unfortunately, whatever it was is a mystery to all of us simple cotton pickers.

Harsh but probably fair. I’m settled in with the popcorn, and eager to see where this goes next.