Alibaba’s Sports Business Raises Over $1 Billion RMB in Series A Funding
Alibaba Sports has confirmed that they have raised RMB 1.2 billion (approximately $17 million USD) at a valuation of RMB 7 billion ($100 million USD). The funding round is being led by Yunfeng Capital and will also include Taiping Guofa Dingsheng Capital and Qianheng Venture Capital. It will reportedly be used for IP operations, content production, acquisitions of IP and other investments. Alibaba Sports is involved with both real world sports and eSports, including the venues.
Tencent Maintains Global Dominance Thanks to League of Legends & Honor of Kings
Tencent had a record year in 2016 as it saw game revenues increase 25% YoY to 70,844 million RMB / $10.2 billion USD. This makes Tencent the world’s largest games company for the fourth year in a row and it’s worth bearing in mind that the $10.2 billion number doesn’t include revenues generated by Supercell who was purchased by Tencent last year. Tencent is a giant in the gaming business and made headlines this week as it surpassed Wells Fargo to become the 10th biggest company in the world by market cap.
CS:GO Launch in China
Counter-Strike: Global Offensive (CS:GO) will launch in China on April 18th – Niko analyst Daniel Ahmad offered insight on the launch, noting that CrossFire has typically been the more popular game. “The game has a large audience on PC and the addition of a mobile version has grown that audience,” said Ahmad. However, Perfect World publishing the game may help increase interest and highlight the game in the realm of eports.
Wanda Is Aiming To Become The Third Largest Player In The Chinese Games Industry
According to Inside Games Asia, “Wanda Cinemas, the entertainment and property mogul’s movie venture, has unveiled a hefty pipeline of 13 online games revolving around best-selling Kung Fu fiction, blockbuster fantasy films and hit dramas. Video games firm Perfect World and online streaming service iQiyi and LeEco will act as its partners in the development and distribution of some titles, the company said. Blockbuster online games such as The King of Glory have become a cash cow for Tencent and NetEase, keeping millions of Chinese millennials glued to their smartphones or computers to buy often pricey virtual goods.”
Pokémon Go Co-Op Features May Be Coming Soon
Pokémon Go may be undergoing some big changes very soon that will include cooperative social gameplay. There are many rumors going around as to what this will look like, whether they might be adding raids to the game or altering the structure of gyms. The game was a hit in Southeast Asia and it still has a consistent 65 million active users.
Leave A Comment