NEW YORK: Alibaba Group Holding Ltd has invested US$120mil (RM384.82mil) in San Francisco-based mobile games studio Kabam, the latest in a string of US investments intended to build up the Chinese online retailer's presence in the world's biggest Internet arena.
The investment raises the valuation of Kabam from US$700mil (RM2.24bil) to more than US$1bil (RM3.2bil). As part of the partnership, Kabam will take games from The Hobbit: Kingdoms of the Middle-earth to Fast & Furious 6: The Game to users of Alibaba's messaging app Laiwang and e-commerce service Taobao, the companies said. First up will be Kabam's The Lord of the Rings game.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
