Shanghai-based mobile and browser game developer and publisher Shinezone Network recently announced completion of RMB 400 mln Series B funding from China Fortune Securities, Bank of Ningbo, Shanshan Venture Capital, Jiuyou Fund, Nord Engine Asset Management Group, and Hi-Tech Venture Capital Group (HTVC). Funds will mainly be used to develop Shinezone's global distribution network, acquire and set up overseas resources, and strengthen incubator programs and investment in talent.
Shinezone mainly focuses on browser-based and mobile game development and distribution for overseas markets. Shinezone, founded in 2011, has published more than 23 products, which are available in 18 countries and regions. Its games are played by hundreds of millions of users and it has strategic partnership relationships with platforms including Facebook, Apple App Store, Google Play, Armor Games, and Sina.
The company was founded from investment by company CEO Li Hualiang, his family, and Chinese internet company Sina (Nasdaq: SINA).
Li said that in 2017, Shinezone will focus on three major goals. First, it will expand its incubator centers to attract more Chinese content product teams and talent. Second, it will expand in overseas markets through business acquisitions. Third, it will strive to reach net profits of RMB 200 mln in 2017, and begin the process of listing on a Chinese A-shares market.
Li also said that Shinezone has grown by more than 100% for three consecutive years.
Shinezone's shareholders include early investors such as Chinese microblogging platform Weibo (Nasdaq: WB), Sequoia Capital, IDG Capital Partners, Yunfeng Capital, Innovation Works, and DFJ Dragon Fund, as well as strategic investors including industry investors, international venture capital, and financial institutions.