Tencent Invests in US Developer Riot Games
Riot Press Release, 9/9/09
Los Angeles-based online game developer and publisher Riot Games has secured funding from Chinese Internet giant Tencent (0700.HK), Benchmark Capital and FirstMark Capital.
Riot's flagship 3D real-time strategy game, League of Legends, is scheduled to launch in North America this autumn. In November 2008 Riot and Tencent announced a licensing agreement that will see Tencent operate League of Legends in Mainland China, with launch expected in 2010. The game adopts the free-to-play model, in which the operator charges for virtual in-game items, but not for playing time.
Editor's Note: Riot's press release says the company has received USD 8 mln in funding this round, but did not break out how much each of the investors had contributed. In early July 2008, Riot announced that it had secured USD 7 mln in funding from Benchmark Capital and FirstMark Capital. Riot was established in 2006.
Keywords: Benchmark Capital FirstMark VC free-to-play Internet funding League of Legends Riot Games Tencent 0700.HK 3D game online gaming
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