On Jan. 8, mobile game distributor 4:33 (Four Thirty Three) announced that it would become a strategic investor in Thumbage to become its largest shareholder. The investment sum was not disclosed. 4:33 and Thumbage have jointly developed MMORPG Heroes for Kakao, which went live this past November.
The decision comes as part of the company’s “10x10x10” goals, 4:33’s aspirations to successfully marketize 10 games in 10 countries, and IPO 10 game developer companies. The company statedly plans to achieve them by leveraging its extensive publishing experience, as well as its partnership with Chinese portal Tencent and messenger app LINE.
“We’re investing in Thumbage so that it can focus on game development,” explains 4:33 Co-CEO Tae-hwan Seo. Seo adds that while 4:33 helps Thumbage grow its business worldwide and prepare to go public, Thumbage CEO Seunghun Baek will remain as chief manager and developer of the company.
“I’m happy for the new opportunity,” says Baek. “The support from 4:33 will establish an environment that will help us produce even better works for the mobile game market in Korea and beyond.”
4:33 and Thumbage’s partnership was a huge success with Heroes. Within 28 days of release, the app recorded $10 million in sales, and now sits in the top 5 grossing number of downloaded apps for both the App Store and Google Play for South Korea.
– Inspired by Platum