OGPlanet, a US-based games publisher which takes MMO games from Korea and publishes them in the US, has received funding from DFJ Athena, a Silicon Valley and Seoul-based VC firm. OGPlanet has been around since 2005 and has imported titles including Albatross 18, Cabal Online, Rumble Fighter, BB Tanks and LaTale (coming later this year).
OGPlanet is free to play, and their business model centres around microtransactions which take place in-game. They are not currently profitable, but the announcement expresses a hope that they will be soon. The VC money is likely to be used to bring more games from Korea to market, and economies of scale dictate that profitability should follow from that.
In some ways OGPlanet is an odd fit with DFJ Athena, whose current portfolio does not appear to include any consumer-facing technology companies. However, both firms share the link between the US and Korea, and it is likely this which has brought them together, with a future acquirer potentially coming from either Asia or the US.
0 comments