Linekong Lands USD 80 Mln Series C Funding
Sina Tech, 1/20/14
Chinese game developer and operator Linekong has announced that it has received USD 80 mln in third-round funding from a consortium of investment firms including Fosun International (0656.HK), Orchid Asia Group Management, and SAIF Partners. Wang Feng, CEO of Linekong, has disclosed that proceeds from the current round of funding will be primarily used for mobile game development, including pay raises for the company's mobile game developers.
In 2013, Linekong kicked off its transition from online to mobile game development and publishing with the launch of mobile games Excalibur, Sword of Heaven, and Blade of God. Linekong has 10 mobile games in the pipeline for 2014, half of which are self-developed products.
Upon its inception in 2007, Linekong received USD 15 mln in first-round funding from venture capital firm IDG. In May 2008, Linekong secured USD 25 mln in second-round funding from Northern Light Venture Capital (NLVC) and New Enterprise Associates (NEA).
Editor's Note: For more background on this topic, please see "Online Gaming Operator Linekong Lands VC Investment" MD 5/13/07 issue and "Linekong Confirms 2nd Round Funding" MD 5/13/08 issue.
Keywords: online gaming Wang Feng funding wireless Orchid Asia Fosun SAIF third-round 0656.HK mobile gaming
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