Gree Pushing Mobile Games Global
Forbes filed this post titled: Japan-based Gree is the $5 billion mobile and social gaming company you’ve never heard of: http://bit.ly/m3x9gw
The company’s games are widely popular in Japan and now the company is expanding globally, particularly in the U.S. and China. Gree in April acquired OpenFeint, one of the largest mobile gaming platforms in the U.S. for $104 million and now is planning to launch its first U.S. game this summer.
I recently met with Gree founder and Chief Executive Yoshikazu Tanaka, a 34-year old billionaire, while he was visiting the OpenFeint offices in Burlingame, Calif.
The upshot is Gree has seen strong growth. Net income increased 54% in its quarter ending in March to JPY4.7 billion ($58.1 million today). Revenue jumped 77% to JPY16.4 billion ($202.6 million today). The company has a market cap of $5.16 billion and the stock is up 75.8% year to date on the Tokyo Stock Exchange. See the full article here.