9You Gets $100M Investment Led By Temasek Holdings
9You, which last month launched the virtual world GTown, has received $100 million in a round of investment led by Temasek Holdings, reports Redline China. The company intends to use the money to continue forming an virtual entertainment community, a project began when it integrated its existing casual games, like Audition, into the GTown environment. It looks like, based on a translated release, that Temasek has previously restricted its investment to fields like finance, aviation, and real estate, with 9You tempting Temasek into its first foray into the Internet and consumer services business. I think the release is claiming that this is the largest domestic investment in the IT and Internet industry, though it might simply be the largest first investment in the space. 9You is already planning an IPO for later this year.
Wow! That is some serious backing! Very impressive news.
Posted by: Mc Fly | March 20, 2008 at 03:59 PM