Tokyo-based Mediba, an ad business-centric subsidiary of Japan’s leading telco KDDI, announced on Friday that it has gained a major stake in AppBroadCast, the company behind a mobile game media called GameGift. Details of the deal have not been disclosed but it seems like the valuation of the startup upon this acquisition is some one billion yen, or tens of million US dollars, according to several information sources.
Since launch back in January 2013, AppBroadCast started the GameGift service in form of an Android app, which has surpassed 4.1 million downloads to date, offering users complimentary virtual items, news updates and strategic know-how for trending game apps. The company currently offers other services like Sakipre, which allows users to participate in beta testing of new game apps, as well as Hayatoku, a pre-registration platform for early downloads of new game apps with rewards.
Prior to acquisition, AppBroadCast secured an undisclosed sum of funding in January 2014 from several sources including KDDI Open Innovation Fund, the startup investment fund jointly managed by KDDI and Japanese investment firm Global Brain. In addition, the company has also been participating in Syn. portal partnership, the mobile company alliance run by KDDI group company Supership. The company says that it may expand the Gamegift business globally, focusing on the Asian market.
Via TechCrunch Japan