SoftBank Enters JV for Habbo Hotel

Sulake Corporation, which operates the leading online teen community Habbo, has started a new strategic cooperation in Japan. Movida Group, a joint venture by SoftBank BB Corp. and Asian Groove, has agreed to invest 6 million Euros of equity into Sulake Corporation. The investment is executed through Movida Investment International (WWJ has a video interview with Habbo Hotel for mobile from the Tokyo Game Show, fall 2004).

Sulake’s main product is Habbo, a new type of youth brand based on Habbo Hotel, one of the world’s fastest growing online communities for teenagers. To date, over 53 million Habbo characters have been created, with close to seven million unique users visiting the Habbo community each month worldwide. The Habbo brand is currently being extended also to include e.g. mobile games and content, and merchandising and licensing products.

Sulake is an interactive entertainment company focused on online communities and casual multiplayer games. Sulake was established in 2000 and it has more than doubled its annual revenues each year. Continue>>