Tencent Invests Additional USD90 Million In Pocket Gems

Tencent has invested additional USD90 million into the American gaming company Pocket Gems, and is increasing its stake in the latter to 38%.

Tencent first invested in Pocket Gems in 2015. At that time, that the Chinese Internet company invested USD60 million in acquiring a 20% share of Pocket Gems. After this new investment, Tencent’s stake in Pocket Gems will increase to 38% and this deal values Pocket Gems at about USD600 million.

Pocket Gems only has two main games: Episode and War Dragons. Therefore, it is quite impressive for the company to gain such a high valuation. Pocket Gems was founded in 2009 and its games have reportedly been downloaded over 300 million times.

Pocket Gems will reportedly achieve operating revenue of USD17.5 million in April 2017 and its annual operating revenue would be over USD200 million in 2017 if it could maintain the performance.

Pocket Gems revealed that the company’s operating revenue and player number set new records in 2016; however, no detailed statistics were available.

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ChinaWirelessNews.com