- General
- August 17, 2020
- 3 minutes read
Brief: Tencent Backs Voodoo
Tencent CEO Pony Ma. Photograph by Vivek Prakash/Fortune, under Creative Commons license Chinese technology giant Tencent has made a minority…
Tencent CEO Pony Ma.
Photograph by Vivek Prakash/Fortune, under Creative Commons license
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Chinese technology giant Tencent has made a minority investment in Voodoo, a French casual games developer, with the investment valuing Voodoo at about $1.4 billion. The amount of funding wasn’t disclosed by both parties, however. Voodoo marks the latest bet from Tencent, which has in its history backed numerous video gaming companies. The Chinese tech giant, a big video game developer on its own, has written big checks to companies including Epic Games, Riot Games, and PUBG developer Krafton.
Before now, Voodoo is known to have raised about $200 million in funding, majorly from US-based investment bank Goldman Sachs. The Paris-based startup was founded only seven years ago.