Beijing Business Today, 1/18/10
Online game developer and operator Beijing CITVC Netempire Entertainment Co ("CNEC") has obtained RMB 130 mln in funding. CNEC originally focused on single player desktop games but later transitioned to the online gaming space. CEO Chen Yang disclosed that the funds will be used to establish an online game development team as well as acquire domestic and overseas developers.
An industry source said the funding did not come from specialized VC firms, but from an unnamed company that began as an alcoholic beverage producer but later became a major real estate firm.