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General : IGG Receives $4.5 M Investment
Posted Jan 02, 2008 by Keith Cross
IGG has announced that they have received a 4.5 million dollars in funding from IDG Technology Venture Investment.
IGG Inc., (www.igg.com) a world-class MMORPG (Massive Multiplayer Online Role-Playing Game) provider, announced today the completion of a $4.5 million round of Series A funding led by IDG Technology Venture Investment (IDGVC Partners).
Dedicated to serve worldwide players with the best interactive online games, IGG Inc. launched its first MMORPG in May 2006. Since then, IGG has successfully released and operated 6 MMORPGs through www.igg.com. With over 3.5 million registered users as of Q3 2007, IGG has established its reputation as a world-class publisher meeting the demand of players of different ages and favors in both North America and Europe.
Besides publishing a portfolio of numerous licensed games running the gamut from action to fantasy, IGG also grows a talented development team to design and develop its own games to contribute to the interactive MMOG world. The new funds will be used to expand global sales and marketing, to implement strategic plans, and to further the development of more innovative and entertaining games. Furthermore, the funds will be used to market games in more regions and for player of different languages. IGG believes that, by growing together with the global business and technology partners as well as the royal users, it will become a key player in the online gaming world in the foreseeable future.
Read more about IGG here.
Maybe now they can make a decent MMO.
Heh, yeah we'll see!
Are all their games Free to Play?
Yes, and 4.5 million doesn't cover the cost of beer and hookers for the dev managers at the gaming conventions. Modern MMO's take anywhere from 30-80m to develop, can't see people accomplishing much with 4.5 million.
But good luck to them.....
Either IDGVC Partners sees a big future in manure or they're planning ahead for a business loss tax writeoff for '08.
I just hope its NOT going to be one of the "click to walk, Lineage 2 clones" because if it is give the money to someone that acually have an original concept of game play and can make their own game engine.
Somebody wasted alot of money.
Basically, it means they can buy publishing rights to 4 old asian games, rename them, shove the code on some low cost servers for NA/EU players, and party hard with the other 500k+.
I think that is just some start up money for a title. They make some foundation work to show to the investors who decide if what they see is worth making round B series of investments.
4.5 million looks to just be start screen play money.
agree, if IGG can make full use of these money, perhaps more companies will invest money in their business.