Yahaha, based in Helsinki and Shanghai, founded by a group of Chinese game experts, has received an investment of $40 million! This investment, received before the launch in April, was described by the company as a continuation of the previous round.
Investment details
Singapore’s Temasek and Alibaba jointly led this investment, while 37 Interactive Entertainment, another Chinese company, was among the participants in the investment round. The company had previously raised funds from 5Y Capital, HillHouse, Coatue, ZhenFund, Bertelsmann Asia Investments, BiliBili and Xiaomi.
Working with a team of 150 people, Yahaha will spend the investment both on improving the team and on marketing.
Statements from Yahaha:
Company founder Chris Zhu made the following statements;
“We’ve seen great growth in YAHAHA during the early Alpha phase. We continue with over 100,000 creators who set out to create content with us.” “This funding round represents the next step we are taking with YAHAHA. We also continue to lead by investing in key areas of the community and building relationships with brands that share our values, aligning with experts in game development, 3D asset creation and more. With YAHAHA, we don’t just launch the next generation of entertainment, we support the next generation of creators and give them the tools and integrated virtual world platform they need to create great content. There are many opportunities waiting for us in the virtual world and we want to be at the cutting edge of this with YAHAHA. To do this, it is imperative that we continue to invest in our team and the community that has brought us to where we are now.”
Source: Girisimhaberleri / Translated by Irem Yildiz