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Tencent Invests in US Online Game Publisher

BEIJING, Sep 18, 2009 (SinoCast Daily Business Beat via COMTEX) --

Company: Tencent Holdings Ltd (TCTZF)

Tencent Holdings Limited (SEHK: 0700), a leading Chinese provider of Internet, mobile and telecommunications value-added services, participated in the latest round of financing kicked off by US online game publisher Riot Games, involving USD 8 million.

The other two investors include Benchmark Capital and FirstMark Capital, which injected USD 7 million into Riot Games last year. The investment is believed to boost the latter's leading status as a next-generation online game company adopting extra charging systems.

Although extra charging just emerges in the European and North American markets, where time billing is more popular, it has been widely accepted by Asian online game operators. Riot Games is among a few companies in the US that attemts the business model.

Riot Games plans to release its free-to-play 3D real-time strategy online game League of Legends in the local market. In November 2008, Tencent inked an agreement with the former to promote the game in Mainland China in 2010. 

Source: www.163.com (September 18, 2009)

Copyright (C) 2009 SinoCast. All rights reserved

News Provided by COMTEX

Company: Tencent Holdings Ltd (TCTZF)


Related terms: billing, china, internet, market, online, publisher, riot, telecommunications, SinoCast China Business Daily news, US, online game, extra charging, time billing, League of Legends

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