News

Tencent makes minor investment in hypercasual specialist Voodoo

"We can improve the way we distribute on Android"

Date Type Companies involved Size
August 18th, 2020 investment Tencent
Voodoo
Not disclosed
Tencent makes minor investment in hypercasual specialist Voodoo

Chinese tech giant Tencent has made a minority investment in French mobile developer and publisher Voodoo.

As reported by TechCrunch, the funding amount was not disclosed. However, it offers Voodoo a great opportunity to strengthen the presence of its games in the Asia Pacific games markets.

With a company valuation of $1.4 billion, and more than 300 million monthly active users, the seven-year-old company has proven to be a great success. Tencent will provide the French hypercasual specialist with the right opportunity to grow in the APAC region, which already contributes to its success. Voodoo's games library has racked up 3.7 billion downloads, of which 7.5 per cent come from China, while the Asia Pacific region as a whole has contributed 25 per cent.

"We can improve the way we distribute on Android [in the region] and also use local influencers to create virality on our games. APAC is 50 per cent of the overall gaming industry, so we really think there is a huge opportunity to grow," said Voodoo CEO Alexandre Yazdi.

Another investment

Tencent is known for its investments, be they big or small. Over the years it has developed an impressive portfolio - back in 2015, the Chinese company acquired full control of Riot Games, the creator of the hit MOBA League of Legends.

Earlier this year, Tencent acquired a majority stake in streaming platform Huya for around $262.2 million, after having made an initial investment in 2018. It is now seeking to merge Huya with fellow streaming platform Douyu, which the Chinese firm has also invested in.


Staff Writer

Kayleigh is the Staff Writer for PocketGamer.biz. Besides PGbiz and PCGI she has written as a list writer for Game Rant, rambling about any and all things games related. You can also find her on Twitter talking utter nonsense.

Comments

No comments
View options
  • Order by latest to oldest
  • Order by oldest to latest
  • Show all replies