Chinese mobile games portal Joyme raises $21.5 million

Rolling out a new distribution platform soon

Date Type Companies involved Size
February 11th, 2014 investment Changyou
Fosun Venture Capital
Chinese mobile games portal Joyme raises $21.5 million

Chinese mobile game-focused website Joyme has closed $21.5 million in its Series B funding round.

Fosun Venture Capital Investment was the lead investor, while previous investor BlueRun Ventures also participated.

Joyme received $7 million from BlueRun in 2011.

Umbrella approach

The importance of websites in the Chinese games industry is their power for promotion and discovery; aspects that are especially important in its fragmented mobile games market.

Many Chinese game publishers also own websites with Changyou's being a classic example.

Joyme says the cash will be invested in rolling out a new strategy encompassing game distribution as well as additional services for developers and consumers. At present, the website generates much of its traffic from user-generated content such as wikis, tips and tricks, walkthroughs and other advice.

[source: Technode]