posted at 18:50
Author: Dean Takahashi
Fri, 01 Aug 2014 01:39:20 +0000
Alibabas investment values Kabam at more than $1B
SHANGHAI - Alibaba's $120 million investment in mobile game publisher Kabam values the U.S. company at more than $1 billion, according to Kabam chief executive Kevin Chou. Under the deal, Alibaba, China's internet giant, will take Kabam games such as the upcoming The Lord of the Rings. Kabam has games on numerous free-to-play mobile and social games like The Hobbit: Kingdoms of Middle-earth across mobile and social platforms like iOS, Android, Facebook, and Amazon. By the end of 2013, 70 percent of Kabam's revenues were in mobile games. Western game developers are stars at making AAA games with creative and polished gameplay on high-end platforms like the PC and consoles. Alibaba Group, the world's largest online and mobile commerce company, plans to go public in what could be one of the biggest initial public offerings in history in the U.S. And the fact that it is investing in a San Francisco-based mobile game company shows how important gaming has become on the global stage. Alibaba will publish popular Kabam mobile games in China across Alibaba's mobile applications, including Mobile Taobao and Laiwang. Kabam is the leader in the western world for free-to-play core games with 1st and 3rd party published titles available on mobile devices and the Web.

Posts Archive