The online first-person shooter CrossFire has proven to be an enormous hit for Tencent with more than 1 million peak concurrent users. The title competes against games such as Special Force and Sudden Attack, all of which use the free-to-play model. Both Special Force and Sudden Attack were enormous hits in Korea and revitalized the FPS genre but it is CrossFire that has performed extremely well in China.
Social media site Friendster launched a new brand and web site signifying the company's evolution to focus on the Asian youth market. The notable changes include a new logo according to the company, and a redesigned web site with an emphasis on local relevance. More than 90 percent of the web site's daily traffic comes from the Southeast Asia region. Roughly 80 percent of Friendster users in Asia are aged between 16 to 24.
Hurray! (Nasdaq:HRAY), a music production and wireless music distribution and other wireless value-added services provider in China, said Ku6 has agreed to the sale of Ku6 to Hurray!, in an all stock transaction under which all of the outstanding capital shares of Ku6 will be sold to Hurray! and all of the outstanding employee stock options of Ku6 will be cancelled. Ku6 is a video sharing site.
Tencent Holdings Limited (SEHK 00700), today announced results for the third quarter of 2009 ended September 30, 2009. Total revenues were RMB3,368.9 million (USD493.3 million), an increase of 17.0% over the second quarter of 2009 (“QoQ”) or an increase of 66.4% over the third quarter of 2008 (“YoY”).
The Play Label of Electronic Arts Inc. (NASDAQ:ERTS) today announced the launch of LITTLEST PET SHOP ONLINE in the U.S. and Canada, an Internet-based game and online community inspired by Hasbro’s (NYSE:HAS) LITTLEST PET SHOP toy brand. With parental permission and a broadband Internet connection, girls can access www.LPSO.com.
Focus Media (Nasdaq: FMCN), announced its unaudited financial results for Q2. In December 2008, Focus Media substantially sold all of the assets of its out-of-home advertising networks, including the LCD display network, poster frame network and certain in-store networks to Sina.
Outspark,a publisher for free-to-play massively multiplayer online games (MMO), today announced that it will launch and operate the North American adaptation of Debut, a casual, online rhythm and dancing game developed by EA's J2M studio in Seoul, Korea.
Micro-transaction business Live Gamer today announced it has completed its acquisition of Twofish. The amount of the acquisition was not disclosed. Previously, Live Gamer had acquired another micro-transaction firm N-Cash.
Google Sites continued to lead as the most visited property in June with nearly 158 million visitors, followed by Yahoo! sites with 156.5 million visitors and Microsoft sites with 129 million visitors,according to July 2009 data from comScore.
Launched in 2003 by Alibaba (Public, HKG:1688) , Taobao claims to be the largest Internet retail website in China with 78 percent of the Chinese domestic online consumer market.
Taobao recorded transaction volume (gross merchandise volume) of RMB80.9 billion (US$11.8 billion) for the first half of 2009, a 97 percent year-on-year increase. Taobao’s gross merchandise volume equated to 1.4 percent of total retail sales in China in the first half of this year, according to the Chinese Bureau of Statistics.