9you Gets $100 Million from Temasek Holdings

Filed in archive Internet on October 2, 2008

Temasek Holdings, Singapore's Sovereign Wealth Fund, has coughed up $100 million for the Chinese game company 9You.

We reported on this deal back in March, but now the money has actually changed hands according to one blog, The Future of Artificial Intelligence

I thought they had an nicely comprehensive description of 9You:

The 9You (www.9you.com) service is the first to integrate online game services (MMORPG, massive and medium size casual games, mobile game, etc.), fashionable digital entertainment contents, a variety of chatting and community services equipped with Avatar System, wireless value-added services and other premiere services to the Chinese language internet users all over the world.

9You looked set to launch an IPO in Osaka last year. A lawsuit over licensing fees for the online dance game Audition forced 9You to cancel its Osaka IPO in August. Korean game designer T3 Entertainment filed the suit.

An IPO is probably a ways off for 9You now in the current economic environment, but Temasek Holdings can probably afford to wait a while for an opportunity to cash its money back out of the company...