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Machine Zone Said to Be Near Raising $250 Million With JPMorgan

Machine Zone Inc., maker of the Game of War mobile application, is close to raising $250 million in a private placement led by JPMorgan Chase & Co., a person with knowledge of the company said.

The Palo Alto, California-based game maker, which has already brought in about $13 million from investors including Menlo Ventures, may disclose the funding by the end of the month, said the person, who asked not to be identified because the talks are private. Some existing shareholders are selling part of their stakes in the financing round, which values the company at $3 billion, the person said.