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Game portal Joyme gets $21.5 million funding to grow with China’s mobile gaming market

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Chinese mobile game portal Joyme yesterday announced it closed an RMB 130 million ($21.5 million) series B round led by Fosun Venture Capital Investment, according to Sina Tech (hat-tip to TechNode for spotting). Previous series A investor Bluerun Ventures also participated in the round.

Joyme provides news, apps, reviews, guides, promotions, and forums for mobile games. Former head producer of EA China Chen Yang leads Joyme’s team of more than 100 staff. This round will be used to further expand the team and market the company brand. Yang says more player and developer services are also in the works, including a distribution platform.

Joyme’s biggest competitor in China is Perfect World-owned PTBus. Other popular gaming portals in China include Changyou-owned 17173 and Perfect World’s TGBus, but those don’t exclusively focus on mobile games.

Fosun has also invested in Chinese MMO titan Perfect World and mobile game developer Linekong.

GoGlobe reports 33 percent of mobile internet users in China play games on their smartphones, and projects strong growth in revenue from these games in the coming years.

(Source: Sina Tech via TechNode)

(Editing by Josh Horwitz)


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