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LINE and Tencent invest $110 million Korean startup 4:33 Creative Lab

Double up
LINE and Tencent invest $110 million Korean startup 4:33 Creative Lab
Date Type Companies Involved Size
Nov 13, 2014 investment 4:33 Creative Lab LINE Corporation Tencent $110m
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Japanese messaging service LINE  and Chinese internet giant Tencent, are working together to bring more content to their respective platforms.

Both companies have pumped $110 million into Korean game developer 4:33 Creative Lab in order to secure original game content for their messaging services.

Both LINE and Tencent's messaing service Weixin/WeChat earn significant revenue from gaming, and they will be hoping 4:33 can deliver original titles with the ability to keep users engaged.

Only the beginning

LINE COO Takeshi Idezawa has revealed that the hefty investment only a small drop in the vast ocean that is the firm's global investment strategy.

“We’re just getting started on our global investment strategy. We’re going global hand-in=hand," said Idezawa, speaking to TechCrunch.

"Right now we are well funded by our owner, and are just focused on our growth.”

[source: TechCrunch]