Kongdoo Company, specializing in game MCN has succeeded in attaining a follow up Series B investment of US3.1m (KRW 3.6b) from Stic Investment, K Cube Ventures and Partner Investments. This investment comes within three months of the last investment in October of US1.7m (KRW 2b) investment from K Cube Venture and Partner Investments in October. The combined total recent investments are US$4.3m (KRW 5b).
Established in March 2014, Kongdoo company is a gaming Multi Channel Network (MCN), managing the content services and the associated crews. The MCN is Korea’s leading game specializing company. Through the content development crews, the company develops and produced their gamins and e-sports contents. Their contents are broadcast onto Afreeca TV, Daum TV. Youtube and Longzhu TV in China.
The company is experiencing great success in China where their monthly contents view exceeds 100 million and monthly new users increases in 4.2 million. With this latest investment, Kongdoo plans on bolstering domestic growth as well as assist their establishment in China. The company will also proceed with their plands for a Chinese game broadcast platform as well as establishment of their own Game Academy.
Seo Kyoung Jong from Kongdoo Company commented, “We have been able to secure further investment following last year’s investment which will allow us to strengthen our China establishment. With our knowledge in gaming MCN we will continue to increase our market share”.
Shin Seung Soo form Stic Investment commented, “Our focus is on the expansion of Kongdoo company with the leading MCN contents in a market where gaming popularity is on the rise. This investment will allow Kongdoo to achieve their global MCN vision and expand into e-sports”.