July 29, 2011
Jiang Huang, CEO of Social games developer Hoolai Game, claimed yesterday that the company had raised $20 Million led by Sequoia Capital in the second round of financing. Several other foreign investment funds had joined with Sequoia Capital.
Hoolai Game’s popular social game Hoolai Three Kingdoms was released on Tencent’s Pengyou at the end of 2010 and on the QZone at March, 2011. Huang has revealed that the game’s DAU was over 10 million and its revenue was at Top3 of Tencent’s third party games.
Hoolai Game has closed its first round of financing before but the details were not revealed.