The Japanese developer of mobile applications KLab, known for the Lord of the Dragons battler, found money to promote his projects.
According to analyst Dr. Serkan Toto, two large companies have become sources of funds for KLab. Oak Capital Corp. brought her $6.6 million, and KLab received another $2.7 million from the deal with Hakuhodo. KLab‘s new partners represent some of the most influential marketing and advertising companies in Japan.
Basically, the proceeds will be used to promote KLab games. Hakuhodo’s awareness of advertising and public relations issues will certainly serve as a good boost for KLab.
For the company, these investments are more than timely. The last year was not easy: from September 2012 to May 2013, she lost $7.7 million.
According to Toto, the price of KLab shares increased by 24% within a few hours after the announcement of the investment.
Source: www.gamesindustry.biz