Tencent Invests $90M in Mobile Studio Pocket Gems
Having already invested an initial $60M for 20% of Pocket Gems, this current investment of $90M pushes Tencent's ownership of the mobile studio to 38%. Pocket Gems is now moving up the ranks of Tencent's impressive games portfolio, which also includes big names such as Riot, Supercell and Blizzard amongst others.
With its new funding, the San Francisco-based, 200 man studio is already planning ahead.
"Tencent is happy to reaffirm our long term support for our strategic partner, Pocket Gems," said Steven Ma, Senior Vice President of Tencent. "We admire their history of focusing on top talent to create innovative new products that can delight users, and look forward to a bright future ahead."
Pocket Gems will be focusing on "major expansions for War Dragons and Episode", as well as the "upcoming launch of a new studio building 3D synchronous multiplayer mobile games for hardcore gamers". Ben Liu, CEO of Pocket Gems, is also eager to share his enthusiasm on the studio's next steps.
"We're excited to build on our partnership with Tencent... We're still in the early days of mobile, and our pioneering team is eager to continue pushing the boundaries of what's possible. The best is yet to come."