Chinese Gaming Site 9You Receives $100 Million Investment
Chinese online games operator 9You has received $100 million in equity investment from Temasek Holdings and other investment institutions. The investment came after 9You’s launch of GTown, a virtual world integrating 9You’s existing online games. 9You says the investment will help the company to continue transforming its business into an entertainment virtual community. Founded in 2003, 9You is currently operating one of China’s most popular online casual games Audition. By February 2008, the company’s games combined have more than 1 million peak concurrent users. The company is planning an IPO later this year.
This story has been provided by our new research partner Pearl Research.
Posted In: Entertainment, Gaming, Money, M&A & Venture Capital, Venture Capital, Countries, Asia, China, 9you, temasek holdings
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Comments (2)
Mar 21, 2008 12:49 PM
The online gaming business is growing into one of the biggest money making industries out there.
Eplaygaming is just one of the new business groups that uses skill gaming, instant messages for social linking and a unique MLM model to grow the business through networking.
The Beta games site ( Frenzy4u ) just opened in January and has already had over a million and a half games played !
The site isn’t even fully functional yet.
If anyone is looking for a new business model, gaming is the way to go.
Mar 23, 2008 10:37 PM
Congradulation for the company,
It has been seeking capital for a long time, like failure IPO :(