|[July 31, 2014]
Kabam and Alibaba Group Team Up to Bring World-Class Mobile Game Titles to Players in China
SHANGHAI --(Business Wire)--
Kabam Inc., the leader in free-to-play games for core players, today
announced it has entered into a strategic collaboration with Alibaba
Group ("Alibaba Group"), the world's largest online and mobile commerce
company, to publish popular Kabam mobile games in China across Alibaba
Group's mobile applications including Mobile Taobao and Laiwang. Kabam's
games include Kingdoms of Camelot: Battle for the North, The Hobbit:
Kingdoms of Middle-earth, Fast & Furious 6: The Game, and Dragons
of Atlantis: Heirs of the Dragon.
Kabam will also receive an investment of approximately US$120 million
from Alibaba Group, subject to customary closing conditions. Terms of
the investment were not disclosed.
The strategic collaboration was announced today at ChinaJoy, China and
Asia's top digital entertainment expo and conference with 180,000
attendees and keynoted by Kabam's CEO Kevin Chou.
"Truly successful games companies have to be globally successful," said
Mr. Chou. "This strategic collaboration with Alibaba provides Kabam the
resources, infrastructure and distribution to help bring our current and
future durable franchise games to China and elsewhere in Asia and make
an immediate impact."
"Alibaba is committed to collaborating with great games companies like
Kabam to deliver captivating digital entertainment offerings to our
users," said Patrick Liu, president of Alibaba Group's digital
entertainment business unit. "The Kabam team has a track record of
innovation and a strong entrepreneurial spirit, and this is exactly the
type of company we want to support."
China and other Asian markets play a key role in the growth and success
of Kabam. The company opened an office in Beijig four years ago, and
develops many of its marquee mobile titles there including The
Hobbit: Kingdoms of Middle-earth, as well as Kingdoms of Camelot:
Battle for the North, each of which has generated more than US$100
million in revenue. Kabam also created the US$50 million Worldwide
Developers Fund, which delivers hit games from Asia developers to a
With offices throughout the U.S. as well as China, South Korea, England,
Germany and Canada, Kabam delivers hit games to global audiences to
create long-lasting franchises. Kabam games are routinely among the top
25 grossing games on the app store charts, and in 2013 Kabam had two of
the top ten grossing apps in the App Store. Kabam closed 2013 with more
than US$360 million in revenues, a 100 percent increase over 2012.
In addition to hit first-party games, Kabam is uniquely positioned in
the free-to-play industry with deep Hollywood partnerships that produce
hit mobile titles such as The Hobbit: Kingdoms of Middle-earth, Fast
& Furious 6: The Game as well as the forthcoming The Hunger
Games in partnership with Lionsgate, and Contest of Champions in
partnership with Marvel. Kabam also has a robust publishing platform
that delivers hit games from Asia to global audiences.
Alibaba Group joins a roster of existing high-profile Kabam investors
that includes Google (News - Alert) Ventures, Warner Bros., MGM, Intel, Canaan
Partners, Redpoint Ventures, Pinnacle Ventures and others.
Citigroup Global Markets Inc. acted as lead financial advisor to Kabam.
J.P. Morgan also was financial advisor to Kabam. O'Melveny & Myers LLP
served as legal advisor to Kabam.
Kabam is the leader in the western world for free-to-play games for
traditional players with first and third party published titles
available on mobile devices via its own dedicated channel in the Apple (News - Alert)
App Store, Google Play, Amazon Appstore, and on the Web via Facebook,
Yahoo, Kabam.com and other platforms. Kabam is the fastest growing
Internet media company in the San Francisco Bay Area and the 17th
fastest growing company overall in the U.S., according to Deloitte (News - Alert) LLP.
Kabam's 2013 revenues exceeded US$360 million, a 100 percent increase
over 2012. The company is profitable and cash-flow positive, and has
created four titles that have grossed more than US$100 million each in
their life. Kabam's Kingdoms of Camelot franchise has grossed more than
US$250 million in less than four years, making it one of the top 10
strategy franchises of all time. In 2012, Kabam Publishing was launched
to provide third-party developers access to Kabam's technology platform,
distribution channels, data analytics and best practices that Kabam's
in-house development teams use to bring wildly successful games to
players worldwide. Kabam has approximately 800 employees around the
world, with corporate headquarters in San Francisco. The company's
investors include Google, Warner Brothers, MGM, Intel (News - Alert), Canaan Partners,
Redpoint Ventures, Pinnacle Ventures and others. More information about
Kabam can be found at www.kabam.com.
[ Back To TMCnet.com's Homepage ]