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Gaming SNS App 'Laoyuegou' Obtains RMB 200 Mln Series C Funding, 2/26/18

Hainan-based Lexin Network Technology, operator of online gaming SNS app Laoyuegou, recently announced completion of RMB 200 mln in Series C funding from Tiantu Capital.

The Laoyuegou website was created in 2012 by MMORPG World of Warcraft commentator "Pizi Lang" for the initial purpose of providing search and ranking services for in-game personal achievements. In July 2015, the Laoyuegou app was released, thus beginning the brand's foray into the social networking sphere. Players can use Laoyuegou to search for and interact with players on the same server, character occupation, and level within their particular gaming communities.

Laoyuegou's main business areas include data services, content, and social networking services. In terms of e-sports data, the company has partnerships with platform operators including Tencent (0700.HK), Douyu TV, Panda TV, and YY Live (Nasdaq: YY). In terms of content, Laoyuegou has formed a professional content team and signed contracts with creators to produce humorous videos, strategy guides, and fan fiction content. In terms of SNS services, in addition to supporting interaction between gamers, in November 2017, the platform added a "play together" function to allow players to follow along during one another's game play and help each other earn points and upgrades.

Laoyuegou previously completed Series B+ funding in May 2017, at which point the company was valued at USD 100 mln.

Editor's Note: For more information on this topic, please see Online Gaming SNS App 'Laoyuegou' Lands RMB 40 Mln Series B+ Funding, MD 5/06/17 issue.

Keywords: VC wireless mobile gaming online gaming funding Series C Tiantu Capital e-sports Lexin Network Technology Laoyuegou gamecasting mobile SNS


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