Google Continues Social Gaming Spending Spree

Google Continues Social Gaming Spending Spree

Web giant Google will reportedly acquire Jambool  and the company’s in-game virtual currency payments product Social Gold.

According to TechCrunch the buyout could be worth as much as $75 million, and represents the latest effort by Google to amass the resources required to take on Facebook in the social networking space.

Jambool was founded by Amazon veterans Vikas Gupta  and Reza Hussein. Social Gold, which enables developers to build payments directly into their games and other apps, recently took a hit following the introduction of Facebook Credits.

Last week Google acquired social developer Slide for $182 million, while it is said to have invested as much as $200 million in FarmVille-maker Zynga. It’s also rumoured to be in talks with other big players in the social game market, including Playdom and Playfish, as it prepares to launch Google Games, which is thought to be part of a wider social networking initiative dubbed Google Me.