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Nexon Makes 'Significant' Investment In 6waves Lolapps
Nexon Makes 'Significant' Investment In 6waves Lolapps
August 4, 2011 | By Kyle Orland

August 4, 2011 | By Kyle Orland
More: Social/Online, Business/Marketing

Seoul-based free-to-play MMO company Nexon today announced a "strategic investment" in Hong Kong-based 6waves Lolapps, the recently-merged pairing of two major social gaming companies, gaining a seat on the company's board of directors.

"We are thrilled to be teaming up with 6waves Lolapps in such a significant way," said Nexon CEO Seung-woo Choi. "We made this investment because we believe that 6waves Lolapps places the same value that we do in providing exciting games to our players and driving growth for the company by doing so."

This is not Nexon's first move into the social gaming market -- in March the company announced its popular MapleStory MMO would be coming to Facebook under the name MapleStory Adventures.

"Our companies complement each other nicely and we both have different expertise to offer this partnership," said 6Waves CEO and co-founder Rex Ng. "As a result, the beneficiaries of this relationship will be our players who will receive great content, games and adventures."

Nexon's announcement comes just days after 6waves Lolapps announced $35 million in funding from Insight Venture Partners. It's unclear if Nexon's investment was part of this funding or comes on top of it.

Nexon maintains an American presence based in Los Angeles, which recently posted a 59 percent jump in revenues for the first quarter of the year.

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Rodolfo Rosini
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Even if their games are not polished or great these guys are building up a massive war chest that they can use to make great acquisitions. Kudos to the team for being able to raise that much.