Tencent Technology News, South Korean game company Kakao Games announced today the completion of 140 billion won (about 819 million yuan) of financing. Five players, Tencent, Netmarble Games, Actoz Soft, Bluehole and Premier M & amp; A PEF, financed the company, which had previously established direct or indirect relationships or strategic relationships with Kakao Games.
Kakao Games said the round of financing not only proved the company's potential value, but also demonstrated a benign relationship with its partners. Kakao Games will use this round of financing to invest in game development studios, strengthen existing businesses, fund new businesses, and serve as operating expenses.
On February 13, Kakao Games held a meeting to approve the financing. Under the agreement, the five investors invested 500 billion won in Tencent, 50 billion won in Netmarble, 20 billion won in Actoz Soft and 10 billion won in BlueHole and Premier respectively.
Kakao Games will use the new funds to source high-quality games, enhance its game development capabilities, explore global businesses, and conduct related acquisitions and investments.
Whon Namkoong, CEO of Kakao Games, said: "We believe that companies that have a direct or indirect relationship with us value our potential as we participate in this round of financing, which also demonstrates the trust our partners have accumulated in us. We will further strengthen our cooperation with these partners. With its capital strength, development capabilities, distribution business and its own platform, Kakao Games has a strong presence in the value chain and will grow rapidly this year. & rdquo;
In 2018, based on the steady growth of PC business, Kakao Games has prepared for the further development of business in Korea and abroad. In the meantime, the Kakao Games platform will be flexible and the game distribution business model will also be strengthened.
In addition, Kakao Games will be based on the core technologies of several subsidiaries to increase the probability of success and bring more value. Friends Games, a game-focused subsidiary, will further focus on game development and create synergies between development capabilities and Kakao Friends' competitive IP. In addition, around the golf business, Kakao VX is using a variety of technologies, such as artificial intelligence, to prepare virtual experience services.