Jambool started up in 2006 and a year later shifted its focus toward social networking sites by creating a virtual currency platform called Social Gold. "Along with success, we found fun and lucrative ways to monetize our apps -- specifically virtual currency and goods. That led us to create a platform to help developers create, host, manage and monetize their virtual economies," its founders write.

Jambool's main competitor is , Facebook's own virtual currency platform. Facebook Credits of earned revenue, whereas . It is mandatory for Facebook developers to use Facebook Credits for monetization.

Jambool CEO Vikas Gupta recently had some harsh words for Facebook Credits in . Gupta listed many problems with Credits, including its hefty revenue cut, its implementation failures (only 1 to 2 percent of people spend money on social games, where as Gupta believes it should be closer to 50 or 60 percent), and its similarities to pre-paid credit cards, which have had "limited success." An example of Facebook's failures with Credits is .

Social gaming has begun a multibillion-dollar industry. , and say that social gaming will reap more than $1 billion in revenue this year. and discovered: