Sulake Corporation: Movida Group, a Softbank and Asian Groove Joint Venture, Invest EUR 6 million in Habbo, the Leading Online Teen Community and Brand.HELSINKI, Finland & TOKYO, Japan -- 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 groove (grldbomacv) a narrow, linear hollow or depression. branchial groove pharyngeal g. -- has agreed to invest 6 million Euros of equity into Sulake Corporation. The investment is executed through Movida Investment International. Sulake is an interactive entertainment company focused on online communities and casual multiplayer games See multiplayer gaming. . Sulake was established in 2000 and it has more than doubled its annual revenues each year. 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. Movida Group is a joint venture by SoftBank BB, a SoftBank Group company, and Asian Groove, one of Asia's leading interactive entertainment companies. Timo Soininen, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Sulake Corporation, commented: "We are happy to have such respected companies as our partners. Their investment and know-how will help us to grow both the Habbo Online community as well as new Habbo brand extensions, such as Habbo Mobile." Taizo Son, President of Asian Groove, commented: "Habbo Hotel has very superior functions as an online community, and we believe it has an enormous growth potential in Japan. We would like to utilize our Group synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. and support Habbo not just in Japan but also in the rest of Asia." About Sulake: Sulake is an interactive entertainment company focused on online communities, casual multiplayer games and social media. Sulake's main product is Habbo, a new type of youth brand, which is based on one of the world's fastest growing online communities for teenagers - Habbo Hotel. There are localized Translated into the spoken language of the country. See localization. Habbo Hotels in 18 countries on five continents supported by a payment network spanning 30 countries. To date, over 53 million Habbo characters have been created and close to 7 million unique users worldwide visit Habbo communities each month (source: Nielsen Netratings, June 2006). The main shareholders in Sulake include Taivas Group, 3i Group plc, Elisa Group and Benchmark Capital Benchmark Capital is a venture capital firm responsible for the early stage funding of some very successful startups, including eBay. In 1995, the firm invested $6.7 million in eBay, which became worth more than $5 billion by the spring of 1999 and resulted in one of Silicon followed by the company's founders Sampo Karjalainen Sampo Karjalainen, born 2 May 1977 in Tampere, is the Chief Creative Officer of Sulake and one of the original founders of Sulake's Habbo Hotel, an Internet virtual world aimed at the young. It has already spread to 29 countries and to six different continents. and Aapo Kyrola, Sulake's CEO Timo Soininen and other personnel. Sulake has headquarters in Finland and offices in 17 countries. Currently the company has 270 employees worldwide. Sulake is extending the Habbo brand to include e.g. mobile games and content, and merchandising and licensing products. www.sulake.com www.habbo.jp About Movida Group: Movida Group, held by Movida Holdings Inc., is a joint venture founded in December 2005 by SoftBank BB Corp. and Asian Groove. Movida Group companies are focused on a wide range of broadband contents, from gamesto web services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. and applications. http://movida.jp/ About SoftBank BB: SoftBank BB Corp., a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of SoftBank Corporation, is providing Internet contents, fiber to the home (FTTH (Fiber To The Home) See FTTP. ), IT related distribution and services. https://www.softbankbb.co.jp/ About Asian Groove: Asian Groove, founded in 1996 by Taizo Son, is a holding company of broadband online entertainment companies. http://www.asian-groove.com/ This information was brought to you by Waymaker http://www.waymaker.net |
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