Shanghai Junmeng invested 70 million in Gem Air, and Bytedance became the company’s second largest shareholder

On February 18, Fuchun shares announced that its wholly-owned subsidiaries, Shanghai Junmeng and Beijing Quantum Yuedong Technology, have reached an agreement with Shanghai Gem Air, and that Shanghai Junmeng and Quantum Yuedong intend to jointly increase their capital and invest in Gem. Aier, of which Shanghai Junmeng plans to increase its capital by 70 million yuan, corresponding to 10% of Gem Aier’s equity after the capital increase.

It is understood that Beijing Quantum Jump is a wholly-owned subsidiary of Bytedance. According to the announcement, Quantum Jump has a subscription amount of 376,400 yuan and a shareholding ratio of 27.43%. This also means that Bytedance has become a game. Al’s second largest shareholder. Among them, Gem Air’s board of directors is composed of 5 directors, and Quantum Jump and Shanghai Junmeng will each have the right to appoint one director to the company.

Shanghai Gem Air Network Technology Co., Ltd. was established on December 1, 2020 with a registered capital of 1 million yuan. It has participated in the development of the popular game “Ragnarok RO: The Birth of a New Era” under Shanghai Junmeng. The game was launched on the Hong Kong, Macau, and Taiwan APP Store and Google Store on October 15 and successfully reached the top of the dual-platform bestseller list. Currently, the game is still in the top ten bestseller list.

What’s interesting is that the overseas release of “Ragnarok RO: The Birth of a New Era” is distributed by the overseas brand Nuverse, which is an overseas brand in the light of the evening. The three companies have already conducted in-depth cooperation before this. The announcement also stated that on the one hand, this investment is to strengthen the in-depth cooperation of the three parties and give play to their respective industry advantages. On the other hand, it is also helpful to the research and development and operation of new game products of Gaim Air, and increase the company’s investment income.

Source: Game Tea House


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