Gree gets aggressive with mobile gaming

3 years ago by in Travel

ad521d79dca905a06879873f222f8bdf1 Gree gets aggressive with mobile gaming

Harnessing the power of its new U.S based mobile social gaming platform OpenFeit, Gree is set to aim for 500 to a billion users worldwide. OpenFeit serves 90 million users worldwide and adds about 2.8 more users per second. Gree is a Japanese mobile social gaming firm.

Gree’s founder and Chief Executive, Yoshikazu Tanaka, said “we are aiming for 500 million to a billion users, though we don’t have a timeframe, or particular countries.” Tanaka said Facebook has about 700 million users and that is what Gree is going after.

Gree and DeNA are in fierce competition in the mobile social gaming market in Japan. Both are wrestling to export their very profitable business model based on microtransactions.

Some industry experts were baffled by the price Gree paid for OpenFeit which reported a net loss of $6.6 million in fiscal 2010. Gree on the other hand made 19.6 billion Yen ($242 million) in operating profit in the financial year ending June 2010.

Gree expects more growth in the Japanese market where they attained more than 25 million users as of March 2011. Growth in Japan has been very rapid even in the currently torpid economy as mobile gaming is very cheap entertainment.

DeNA said in October 2010 it would pay $403 million to buy out ngmoco, its U.S. rival as a tactic to expand it global market.

[] Photo by ilamont