Mobile Gaming Portal Joyme Lands RMB 130 Mln Funding
Tencent Tech, 2/11/14
Beijing-based online entertainment company Lexiang Fangdeng (EnjoyFound), operator Joyme.com, a web-based vertical portal focused on mobile gaming, has announced the completion of RMB 130 mln in new funding. Investment was led by Fosun International's (0656.HK) VC arm, with participation from BlueRun Ventures, a previous investor in Joyme. China Renaissance Partners served as the exclusive financial advisor for the new round of funding.
Joyme.com was established in 2011 by Chen Yang, who previously served as GM of online game developer and operator Optic Communications. Chen has also served as Lead Producer for US gaming company EA in China and CEO of online game developer and operator Beijing CITVC Netempire Entertainment. According to Chen, the funding will be primarily used for brand development and attracting new talent to the company. Joyme.com plans to announce a refocused company strategy in March 2014.
Fosun International has previously invested in other developers and operators within the Chinese gaming industry, including Perfect World (Nasdaq: PWRD), Giant Interactive (NYSE: GA), and Linekong.
Prior BlueRun Ventures investments include community-based traffic and navigation app Waze, online classifieds service Ganji.com, and fashion SNS Meilishuo.
Editor's Note: To help gaming enterprises and industry analysts gain a comprehensive overview of China's major mobile game developers, publishers, distribution platforms, mobile games, and mobile game industry M&A deals and partnerships, Marbridge has recently released its Q4 2013 Chinese Mobile Gaming Industry Matrix.
Keywords: Joyme EnjoyFound wireless funding portal BlueRun Fosun 0656.HK Chen Yang online gaming
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