Qiming Sells Gamegoo Stake to Tencent

Sina Tech, 9/17/10

A report from venture capital sources states that Qiming Venture Partners has divested from Chinese browser game developer Beijing Gamegoo Information Technology, selling its stake to Chinese internet and mobile entertainment firm Tencent Holdings (0700.HK). The report was confirmed by Qiming Venture Partners associate Tong Shihao.

Tong added, "We have received our return, and are very pleased with this investment. After becoming an investor, Tencent will help give a boost to the games. Online strategy game "Qi Xiong Zheng Ba" has already reached a PCU of 200,000 players."

Tong did not disclose specific financial details about Qiming's investment returns from the project.

Previously, Gamegoo CEO Zhang Fumao had revealed that Gamegoo was cooperating with Tencent, and that users would see three products, "Qi Xiong Zheng Ba", "Mohuan Dalu" and "Jiang Hu Xiao," on Tencent.

Keywords: Jiang Hu Xiao browser game Mohuan Dalu Internet investment Tencent PCU Qiming 0700.HK Gamegoo Zhang Fumao Qi Xiong Zheng Ba online gaming VC Hans Tung Mo Huan Da Lu

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