Movida Group, a SoftBank and Asian Groove joint venture, invest EUR 6 million in Habbo, the leading online teen community and brand
Sulake Corporation, which operates the leading online teen community Habbo, has started a new strategic cooperation in Japan. Movida Group – a joint venture by SoftBank BB Corp. and Asian Groove – has agreed to invest 6 million Euros of equity into Sulake Corporation. The investment is executed through Movida Investment International.
Movida Group is a joint venture by SoftBank BB, a SoftBank Group company, and Asian Groove, one of Asia's leading interactive entertainment companies.
Timo Soininen, CEO of Sulake Corporation, commented:
"We are happy to have such respected companies as our partners. Their investment and know-how will help us to grow both the Habbo Online community as well as new Habbo brand extensions, such as Habbo Mobile."
Taizo Son, President of Asian Groove, commented:
"Habbo Hotel has very superior functions as an online community, and we believe it has an enormous growth potential in Japan. We would like to utilize our Group synergy and support Habbo not just in Japan but also in the rest of Asia."
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