Republik Games Unable to Secure Funding

Developer Republik Games announced today that the company has suspended development of its erotic multiplayer PC game, Spend the Night, due to an inability to secure an anticipated round of equity financing. The company had previously raised an undisclosed sum during two previous funding rounds and was reportedly well into production of its flagship title. “The past few weeks have been a rollercoaster for the company” said CEO Robert Coshland. “We had a single day record of 1.8 million hits on our website, we’re being included in a documentary on the future of video games, and we have over 100 people join our mailing list everyday. Unfortunately game development is expensive and attention doesn't translate into operational funds.” Coshland indicated that 12 people were affected by the shut down. “Republik Games intends to focus on raising new capital. It’s not just an incredible product—it’s a solid business proposition and we have the research, the materials, and the numbers to back it up.” Spend the Night was a source of much media speculation after it was announced in early January due to its premise of online gameplay based around the concept of "virtual sex". In the game, players find compatible matches via a built-in network of other Spend the Night users, and then play cooperative "virtual dates." “This is not a downloadable chat application," noted Coshland when the game was first announced. “It's a serious title for the emerging genre of social video gaming."