Dec 23 2009

ChessCube Supports Chess Education in South Africa

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FOR IMMEDIATE RELEASE

ChessCube Supports Chess Education in South Africa

Cape Town, South Africa – 23 December 2009. ChessCube, a South African based Internet Chess Company with an 800,000 membership, offers support to President Zuma’s recent initiatives to encourage South African youth to play chess.

Playing chess at school could lead to job creation. Mark Levitt, CEO and founder of ChessCube, says, “President Zuma noted that the sport of chess develops strategic thinking for school going children. It also aids the development of mathematic and languages skills. David Macenulty, a US-based chess coach, proved that inner city New York learners who studied chess at primary school went onto tertiary education far more than their peers. So great was his contribution to chess in schools that it inspired the Ted Danson film ‘Knights of the South Bronx’.”

Levitt explains the impact of chess now on the future jobs of South Africa’s youth: “Kids who play chess at primary school level tend to go onto tertiary education to secure and create employment for themselves and others. Chess plays an important role as one of the many initiatives to create a prosperous South Africa of growth, starting with the youth.”

ChessCube is launching an online schools chess initiative in South Africa and other countries from early 2010. The South African government, a number of NGOs and large corporates are doing a great deal to improve Internet and computer services in schools. ChessCube will be working with all providers to ensure that schools in South Africa can connect to ChessCube’s classroom service.

“ChessCube will provide facilities for children to play chess online and to receive online video training”, explained Levitt. “The basic service will be free to all schools in South Africa, and we will be working with big business to sponsor additional opportunities for South African youth.”

ChessCube recently raised R10m from Invenfin, the Venture Capital subsidiary of Remgro Ltd, a listed South African Company.

Useful links

ChessCube Facebook Application: http://apps.facebook.com/chesscube/
ChessCube website: www.chesscube.com

Contact information
ChessCube(Pty) Ltd.
Contact: Mark Levitt (CEO)
+27 82 389 3637
+27 21 555 2019
[email protected]

About ChessCube
ChessCube (www.chesscube.com) was launched in June 2007 from Cape Town headquarters. It has since grown to a community of over 800,000 avid chess players, and continues to grow. ChessCube is an innovative, and award-winning, live chess platform. Mark Levitt, founder and CEO of ChessCube, is four times South African Chess Champion, and many of ChessCube’s board members are avid, strong chess players themselves. ChessCube’s investors include Invenfin (the venture capital subsidiary of the Remgro Limited group) Vinny Lingham and Michael Leeman.

For more information or images, please contact Mark Levitt ([email protected]) or Sarah Blake ([email protected]).


Aug 10 2009

Online Chess Business ChessCube Receives VC Funding

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FOR IMMEDIATE RELEASE

Online Chess Business ChessCube Receives VC Funding

Cape Town, South Africa – 10 August 2009.  ChessCube has concluded a US$1.25m funding agreement with Venture Capital fund, InVenFin (Pty) Ltd. InVenFin, the VC-focused subsidiary of VenFin Limited, invests in intellectual property-based start-ups with global potential. This transaction brings ChessCube’s total funding to date to US$1.8m.

ChessCube is an online chess site, which allows players of all skill levels to compete and learn chess, while socializing with others. With a potential market of over fifty million active chess players in the world, ChessCube.com has already attracted over 650,000 registered users across 207 countries – making it one of the leaders in the growing online chess market.

Mark Levitt, CEO and founder of ChessCube says, “We are delighted to have InVenFin on board as our partner. Over and above the valuable capital injection, InVenFin gives us access to an international business network, and their team of experts in branding, product strategy, intellectual property management and corporate structuring. This investment allows ChessCube to focus on establishing itself as the world leader in online chess.”

InVenFin’s Stuart Gast says, “ChessCube’s innovative product offering has impressed us, along with the strong team led by Mark.  The social gaming space is growing rapidly worldwide, and we believe ChessCube represents an excellent entrance for us into this world.  We look forward to assisting ChessCube achieve its aspirations.”

Vinny Lingham, CEO of San Francisco-based Yola.com, was an early investor in ChessCube. “As a keen chess player myself, it is particularly exciting to be part of an innovative chess venture,” said Lingham. “This investment by InVenFin further highlights the potential of Cape Town as the technology hub of Africa – which I like to dub Silicon Cape. ChessCube has enormous potential to dominate the massive global chess players’ market.”

The partnership between ChessCube.com and InVenfin will allow ChessCube.com to become the most recognized and loved online brand for chess enthusiasts.

ChessCube enables all levels of chess players to play live chess against other like-minded players, in various forms of the game. The focus at ChessCube.com is enjoying the game of chess in a positive and fun environment.

ChessCube.com also offers interactive chess videos written by international grandmasters. Unlike DVDs, these videos interact with each user, offering them personalised instruction – an outstanding innovation that earned ChessCube a Semi-final placing in the 2008 Adobe Max Awards in San Francisco.

World history was recently made by ChessCube when, during its recent sponsorship of the 2009 South African Open, along with the 400 participants at a Cape Town venue, for the first time in history three grandmasters and masters participated from a second venue in Melbourne, Australia. FIDE, the world chess federation, worked with ChessCube to ensure that the games, which were played across the Internet, were officially rated, setting a new precedent that could see tournaments using this technology in the future.

ChessCube continues to innovate and build on its award-winning chess playing platform from its Cape Town headquarters.

Useful links

ChessCube website: www.chesscube.com
ChessCube blog: www.www.chesscube.com/blog

Downloads

Download .doc version of release
Download ChessCube logo (.png)

Contact information

ChessCube(Pty) Ltd.
Contact: Mark Levitt (CEO)
+27 21 555 2019
[email protected]

About ChessCube

ChessCube (www.chesscube.com) was launched in May 2007 from its Cape Town headquarters. It has since grown into a community of over 650,000 avid chess players, and continues to grow at a rapid pace. ChessCube is an innovative, live chess platform, allowing competition and education within a social community. Mark Levitt, founder and CEO of ChessCube, is four times South African Chess Champion. ChessCube’s investors include InVenfin, Vinny Lingham and Michael Leeman.

For more information or images, please contact Mark Levitt ([email protected]) or Sarah Blake ([email protected]).