Tencent becomes a minority stakeholder in Voodoo

Source: Voodoo.io

Announced today, Tencent, investor of well-known gaming companies including Epic Games, Riot Games, Ubisoft, and Activision Blizzard, has taken a minority stake in Voodoo, French gaming company valued at $1.4 billion. According to Bloomberg, the company was looking for a potential stakeholder in a deal that could value Voodoo at more than $1.6 billion. 

On last Wednesday, in the company’s Q2 financial result report, Tencent reported $31.49 billion (¥222.9 billion) in revenue with a 28% year-on-year increase in the first half of the year. The company’s revenue from its online game division grew by 40% to 38.29 billion yuan as compared to the first quarter of 2020 during the lockdown period thanks to mobile games such as Peacekeeper Elite and Honour of Kings. 

The funding amount has not been disclosed.

We are thrilled to welcome Tencent, a company we admire for its leading game and consumer mobile apps. We look forward to developing new products together for the Asian market, and publishing games created by the many talented games studios in the region,

Alexandre Yazdi, the CEO and co-founder of Voodoo said in a statement. 

Founded by Alexandre Yazdi and Laurent Ritter, Voodoo has reached 3.7 billion downloads and 300 million monthly active users across its popular titles including Helix Jump, Fire Balls 3D, and Roller Splat. The company has launched more than 100 games so far. 

Written by Jordan Bevan

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