Wow….I just read on theedgedaily.com that [tag]e-games.com.my[/tag] (egamesglobal.com.my) is in trouble. I just can’t believe it. With Rm 60 million funding and promises to develop their own [tag]MMORPG[/tag], they can’t get it up.
I watched with envy when they got that funding because my ex-company who wanted to get the Korean online game into malaysia shutdown due to insufficient capital. My korean bosses try very hard to secure funding to get the games started but things did not work out.
At that time, the licensing fee for a korean online game is about Usd 250,000 (and up) and it’s take another USD 100,000 for the hardware. Not the top of the line games or servers hardware but it’s enough to get the ball rolling.
These guys pick-up about 15,000,000 usd (60 mil x 3.8 exchange rate) and they can’t overwhelm the industry. So sad.
Another question that comes to my mind, how did they get such massive funding from [tag]malaysia debt ventures[/tag] (MDV)?. Why would [tag]MDV[/tag] funds a start-up with no revenue or profit?
Anyway, I am thinking aloud on this one. Those in the VC funding scenes, you know-lah….you only funds the well-connected one…mah.
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