July 21, 2004

By: Lubor Trombley
Website: http://www.1st-in-games.com

$21 Million in Financing Fuels the Outrageous Fun From Cranium, Inc.

Cranium Inc., a leading game maker and creator of Cranium, the fastest selling independent board game in history, today announced the closure of its first round of funding with an infusion of $21 million in outside capital. Lead participants were Seattle-based Maveron and TPG Ventures located in Palo Alto, Calif.

The proceeds will further position Cranium as a global leader in toys and games by funding the development of new adult, family and children's games; expansion into more than 20 international markets over the next two years; and exploration of Cranium brand extensions beyond the game aisle.

The funding comes on the heels of a successful 2002. The company's flagship game, Cranium, posted its two millionth game sold, and its first kids' game, Cranium Cadoo, won the Game of the Year award from the Toy Industry Association. Two new products gave Craniacs, young and old, something to celebrate: Cranium Cariboo, the preschool game which won awards from five leading national toy and game experts, and Cranium Hoopla, Cranium's second adult game and available exclusively with Starbucks.

Cranium also spread the outrageous fun around the world by introducing games in the UK, Canada, France, Germany and Australia. When Whit Alexander and I started Cranium Inc. five years ago, we wanted to create much more than an outrageously fun party game. We wanted to build a company dedicated to creating fun moments and memories that give everyone the chance to shine, said Richard Tait, Cranium, Inc. co-founder and Grand Poo Bah. With this financing and millions of Craniacs behind us, we're on our way to fulfilling that dream.

Maveron and TPG Ventures are the lead investors in the Cranium, Inc. funding. Maveron LLC, the firm co-founded by Starbucks Coffee Company chairman Howard Schultz in 1998, has a portfolio that includes such successful companies as ebay.com, Motley Fool, Potbelly Sandwich Works and Drugstore.com. TPG Ventures is an affiliate of the Texas Pacific Group, a private equity investment firm with a portfolio that includes J. Crew, Ducati, Continental Airlines and Burger King.

Cranium is one of the most exciting consumer brands I've seen emerge in the last few years, said Maveron co-founder Howard Schultz. I knew in 1998, when Starbucks became Cranium's pioneering partner, that the company was poised for fantastic success. The brand equity this company has built in just five years is exhilarating and a testament to the creativity of its products and the passion of its people.

Cranium Kicks Off Year with Rolling Thunder-And Belly Laughs for All Ages The funding announcement is the latest in a stream of successes for Cranium Inc. during the first half of this year. At New York's American International Toy Fair, Cranium Inc. walked away with the industry's coveted Game of the Year award for Cranium Cadoo. It was the company's second Game of the Year win in as many years, with Cranium taking home the prize last year.

Additionally, it unveiled two new products for 2004-Cranium Hullabaloo, the high-energy game for kids 4 and up that's full of tunes, twists, and all kinds of surprises; and a hilarious new guess what I'm thinking game for everyone age 8 to 88. The company also announced it would enter 10 new markets around the world during 2003, more than tripling the number of international versions of its hallmark party game, Cranium.

About The Author:

Lubor Trombley is a successful author and regular contributor to http://www.1st-in-games.com.  Great games for the entire family for hours of fun or competition. We feature all your favorites.