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Linekong raises $80 million in Series C round

Setting the scene prior to expected IPO
Linekong raises $80 million in Series C round

How things have changed for Chinese PC-turned-mobile publisher Linekong.

A year ago, it was battling through a difficult transition to become a fully mobile game-focused entity.

Now, however, the success of its mobile MMORPG The Legend of King - with monthly revenue of over $7 million a month - sees it as a leading light in the Chinese development scene.

And that’s something cemented by its third investment round.

The $80 million cash injection came from a consortium of companies - Orchid Asia, SAIF Partners, Starwish Global Limited, Profitable Century International Limited.

Bigger bangs

Back when it was a PC and web-focused company Linekong raised $35 million in two rounds from investors including IDG Capital Partners, North Light Venture Capital and NEA.

The company says will use the money to expand its product pipeline in 2014, with 10 mobile games expected to be released, half of which will come from third-party developers.

CEO Wang Feng has also made it clear that during the year he expects the company to IPO on the Hong Kong stock exchange.

[source: TechNode]