Big Money Moves For Red 5 Studios & Firefall
The developers of the popular free MMOFPS game, Firefall, have just announced an initiative to sell $24 million of its stock to Shanghai Oriental Pearl Culture Development Ltd. The9, the parent company of Red 5 Studios, will hand over 20% of it’s shares if the move goes through. It’s not all that surprising that the developers are seeking new financial opportunities following the recent release of a lot of staff.
The value of the shares is based on a pre-money valuation of Red 5′s forthcoming online shooter, Firefall. According to a statement released today, Firefall is valued at $100 million.
The9 acquired a majority stake in Red 5 Studios – founded in 2005 by former Blizzard staff – in March 2010. The company announced Firefall in September 2010, but the game only entered open beta in July this year.
Featured MMORPG / MMO
LATEST MMORPG NEWS
- Bigpoint Introduced New Sentinel Zel To Shards Of War November 28, 2014
- New Physical & Digital Board Game Offers A New Experience In The Witcher Universe November 28, 2014
- Mesa Update Arrives In Time For Black Friday In Warframe November 28, 2014
- War Thunder Introduces New US Tanks November 28, 2014