Tencent predicts the mobile gaming market will become increasingly international, giving US firms greater access to the huge Chinese market.
May 11, 2017
‘Chinese internet Tencent has continued its recent investment spree after it backed U.S.-based game studio Pocket Gems to the tune of $90 million.
Tencent invested in Pocket Gems back in 2015, when it put in a reported $60 million for a 20 percent stake. This time around the Wall Street Journal reported the investment as $90 million, which TechCrunch has confirmed independently. That deal, the Journal said, takes Tencent’s equity to 38 percent, giving Pocket Gems a valuation of around $600 million.’