Turbine Generates Funding

Turbine announces it has secured $40 million in new funding, tapping media
giant Time Warner Entertainment and investment firm GGV Capital for the new
investment. The quotes from the announcement indicate that MMOGs for consoles
and for Asian audiences may be the outcome of this deal: "Our investment
in Turbine is an important addition to Time Warner's entertainment initiatives,"
said Rachel Lam, Senior Vice President and Group Managing Director of Time
Warner Investments. "Online interactive entertainment is a huge growth market
and we are very excited about Turbine, its unique capabilities and the obvious
opportunities that exist with our own broad portfolio of IP."

"The demand for massively multiplayer online worlds is exploding both
geographically and in terms of platforms served," said Hany Nada, managing
partner, GGV Capital. "Turbine is a proven leader in massively interactive
online entertainment and the incredible technology that supports it. We look
forward to marrying our strengths both here and in Asia with Turbine's unique
capabilities."


Note: This article has been bookmarked by a user. Please visit the source website for the complete article.