Marbridge Daily

<- January 09, 2012 ->

Gaming Portal Confirms Investment by Perfect World

Tencent Tech, 1/09/12

Zhang Yunfan, CEO of Beijing-based gaming portal, confirmed today that game developer and operator Perfect World (Nasdaq: PWRD) had purchased a stake in the portal. Previous reports had stated that Perfect World chairman Michael Chi had bought a 20% stake in for RMB 27 mln, and had appointed Perfect World VP Wei Cheng to the board of

Zhang said that the investment in 178 had come from Perfect World, rather than from Michael Chi himself, adding that would not change its media strategy as the result of Perfect World's 20% stake in the portal. Zhang said that the company had contracted for RMB 1-2 mln in advertising on the portal - a figure insufficient for it to rank among's top five advertisers.

Editor's Note: For more information on this topic, please see "Perfect World CEO Invests in Gaming Portal," MD 10/15/09 issue.

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