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  • http://www.chinadaily.com.cn/bizchina/2006-12/26/content_767613.htm
  • http://economy.donga.com/CEO/3/0104/20100703/29583723/3
  • http://stocks.finance.yahoo.co.jp/stocks/detail/?code=2121.t http://stocks.finance.yahoo.co.jp/stocks/detail/?code=3632.T&d=1y http://stocks.finance.yahoo.co.jp/stocks/detail/?code=2432.T&d=6m http://finance.yahoo.com/q?s=0700.HK
  • http://metropolitician.blogs.com/scribblings_of_the_metrop/2010/06/facebook-taking-over-korea-as-predicted.html www.cyworld.com/iammicy
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  • http://apps.yozm.daum.net/ http://apps.naver.com/
  • http://www.tri-d.com/Proposal-Social_Network_Game.pdf http://www.puppyred.com/demo/jsp/contact_main.jsp http://www.tri-d.com/Intro_to_Puppyred.pdf http://appstore.nate.com/Apps/Canvas?apps_no=1153&use_network=CY
  • http://www.insidesocialgames.com/2010/10/07/how-design-choices-impact-virtual-goods-purchases-in-games/
  • http://www.insidesocialgames.com/2010/10/07/how-design-choices-impact-virtual-goods-purchases-in-games/
  • http://news.mmosite.com/content/2010-09-25/korean_game_market_value_hits_5_9bn_in_2009.shtml
  • 넥슨 김정주 사장 http://cafe.chosun.com/club.menu.bbs.read.screen?p_club_id=y http://www.koreagamewatch.com/wp/companies-2/nexon-holdingsnxc/oung&p_menu_id=2&message_id=365603
  • http://www.gamepron.com/news/2010/04/12/starcraft-cheating-scandal-rocks-korea/ http://www.the-games-blog.com/bad-week-for-korean-gamers-scandals-and-curfews/
  • http://asiajin.com/blog/2009/09/21/mixi-echo-becomes-mixi-voice-to-chase-twitter/ http://japan.cnet.com/news/business/story/0,3800104746,20414363,00.htm
  • http://asiajin.com/blog/2010/09/10/mixi-launches-social-app-platform-for-smartphone-users-too/
  • http://www.dena.jp/en/ir/pdf/FY10Q1%20Operating%20Results.pdf
  • Launch | 2004 IPO | December 2008 Users | 10 million (2009.4) Under 30 y/o | 61% SNS market share | 12% Monthly PV | 121,8 billion Revenue 1Q09 | 29 MEUR - B2C | 21.6 MEUR - Advertising | 7.4 MEUR Net profit 1Q09 | 9.9 MEUR
  • Gree: please forget our PC site! http://asiajin.com/blog/2009/10/26/
  • Financials | http://eir.eol.co.jp/EIR/View.aspx?cat=yuho_pdf&sid=1483363 Latest quarter | http://eir.eol.co.jp/EIR/View.aspx?template=ir_material&sid=6831&code=3632
  • http://247wallst.com/2010/07/21/google-images-hits-one-billion-page-views-a-day/
  • http://gree.co.jp/news/press/2010/1007.html
  • http://gree.co.jp/news/press/2010/0930.html
  • GREE | http://japan.cnet.com/mobile/story/0,3800078151,20368425,00.htm http://www.nikkeibp.co.jp/news/it08q1/563342/
  • http://ir.cyberagent.co.jp/ir_e/
  • http://ir.cyberagent.co.jp/ir_e/result/2010/pdf/2q_presentation_eng.pdf
  • http://ir.cyberagent.co.jp/ir_e/result/2010/pdf/2q_presentation_eng.pdf
  • http://venturebeat.com/2010/07/07/facebook-emerging-markets/
  • http://www.gamesbrief.com/2010/06/the-online-games-market-was-worth-15-billion-in-2009-and-will-grow-to-20-billion-in-2010/ http://news.cnet.com/8301-13846_3-10374667-62.html
  • http://www.prnewswire.com/news-releases/following-in-tencent-qqs-footsteps-mobile-community-mig33-proves-there-is-real-money-in-developing-markets-89485502.html http://mobile.venturebeat.com/2010/07/15/mig33s-virtual-gifts-business-grows-400-percent-in-second-quarter/ http://mobile.venturebeat.com/2010/03/17/mig33s-move-to-asia-puts-it-head-to-head-with-chinas-mobile-chat-king/
  • http://www.prnewswire.com/news-releases/following-in-tencent-qqs-footsteps-mobile-community-mig33-proves-there-is-real-money-in-developing-markets-89485502.html http://mobile.venturebeat.com/2010/07/15/mig33s-virtual-gifts-business-grows-400-percent-in-second-quarter/ http://mobile.venturebeat.com/2010/03/17/mig33s-move-to-asia-puts-it-head-to-head-with-chinas-mobile-chat-king/
  • http://www.insidevirtualgoods.com/us-virtual-goods/ http://www.virtualgoodsnews.com/2009/10/chinas-online-games-worth-over-900m-in-q2-alone.html
  • http://www.insidevirtualgoods.com/us-virtual-goods/ http://www.virtualgoodsnews.com/2009/10/chinas-online-games-worth-over-900m-in-q2-alone.html Virtual goods = $6B in china, $2B?? In japan, $2B? in Korea = $9B
  • http://blog.digitalchocolate.com/?p=518
  • http://www.koreaittimes.com/story/3969/global-game-hub-center-launched-note-high-hopes
  • http://eir.eol.co.jp/EIR/View.aspx?cat=tdnet&sid=828335
  • http://webcache.googleusercontent.com/search?q=cache:J1-VknkYzToJ:www.koreatimes.co.kr/www/news/biz/2010/07/123_30556.html+nexon+holdings+ceo&cd=1&hl=en&ct=clnk&gl=us&client=firefox-a http://venturebeat.com/2010/10/04/nexon-invests-in-spanish-developer-boombang-games/ http://venturebeat.com/2010/05/27/korean-online-game-firm-nexon-acquires-stake-in-gamehi-for-59m-exclusive/ http://www.industrygamers.com/news/nexon-acquires-mmo-developer-ndoors/ http://finance.yahoo.com/q?s=ERTS
  • http://techcrunch.com/2010/09/24/japanese-company-dena-expands-footprint-in-u-s-invests-in-social-game-studio-astro-ape/ http://techcrunch.com/2010/09/14/japanese-company-dena-buys-mobile-social-gaming-studio-gameview/ http://techcrunch.com/2010/04/02/aurora-feint-debuts-social-gaming-app-for-the-ipad/ http://techcrunch.com/2010/06/15/japanese-gaming-company-dena-sets-up-27-5-million-investment-fund/ http://www.icebreakgames.com/
  • http://techcrunch.com/2010/07/14/naspers-dst/ http://venturebeat.com/2009/12/15/zynga-raises-180m-from-russian-investor-digital-sky-technologies/ http://techcrunch.com/2009/05/26/facebook-takes-that-200-million-investment-from-the-russians-at-a-10-billion-valuation/ http://techcrunch.com/2010/06/20/what-valley-companies-should-know-about-tencent/ http://www.economist.com/node/16539424?story_id=16539424 http://www.thomascrampton.com/social-media/naspers-dst-tencent/ http://www.allfacebook.com/dst-now-owns-10-percent-of-facebook-2010-05 http://www.crunchbase.com/company/digital-sky-technologies http://dst-global.com/About http://eu.techcrunch.com/2010/08/31/dst-completes-purchase-of-odnoklassniki-ru-exits-nasza-klasa-pl/
  • http://www.naspers.co.za/cmsAdmin/uploads/Fact-sheet-Sept-2010_002.pdf http://www.reuters.com/finance/stocks/overview?symbol=NPNJn.J
  • Transcript

    • 1. Digital Goods, Real Billions Asia’s Digital Life & What it means for the West @benjaminjoffe | CEO, +8* Virtual Goods Summit, San Francisco | 2010.10
    • 2. @benjaminjoffe
    • 3. 4 years 1 year 5 years
    • 4.
      • CEO, Plus Eight Star | www.plus8star.com
        • Best practices from Asia’s digital space
        • Research, Strategy & “Innovation Arbitrage”
      • Clients
    • 5.
      • Speaker
        • 100+ talks in 16 countries
      • Advisor
      • Investor in Asia-based global companies
      Angel Investor, Advisor, Keynote Speaker
    • 6. My Interests
      • Technology, Sociology and Anthropology
      • Virtual economies
      • Digital third places
      • Artificial artificial intelligence (AAI)
      • Online social dynamics
    • 7. All the world’s a… All the world’s a stage … All the world’s a game … … And one man in his time plays many avatars . William Shakespeare Gabe Zichermann Benjamin Joffe
    • 8.
      • Introduction Quiz!
      • Chapter 1 South Korea
      • Chapter 3 Japan
      • Chapter 4 China
      • Chapter 5 Rest of Asia
      • Chapter 6 Conclusions
      • Chapter 7 Globalization
    • 9. Quiz!
    • 10. Quiz!
    • 11. Quiz
    • 12. Quiz
    • 13. Quiz
    • 14. Quiz
    • 15. Quiz
    • 16. More than Facebook and USA
      • Facebook
      • LinkedIn
      • QQ (Tencent)
      • Qzone
      • RenRen
      • Kaixin001
      • Xiaonei
      • 51.com
      • Mixi
      • Mobile Game Town
      • Gree
      • Cyworld
      • Friendster
      And more…
    • 17. Billion Dollar Brands
      • Facebook
      • LinkedIn
      • QQ (Tencent)
      • Qzone
      • RenRen
      • Kaixin001
      • Xiaonei
      • 51.com
      • Mixi
      • Mobile Game Town
      • Gree
      • Cyworld
      • Friendster
      And more… $B $B $B $B $B $B $B
    • 18. Market Caps (2010.10) $780M $3.3B $43B $4.2B
    • 19. ngmoco:) news $400M < 2010 Profit!
    • 20. South Korea
    • 21. Cyworld
      • SNS/VG pioneer since 10 years ago
        • Stagnant for several years
        • “The new MySpace”?
    • 22. 2009.10 | Nate App Store
      • Leverages Nate’s reach
      • Semi-open
      • Slow rise (2M users)
      • Rev share (70/30)
    • 23. Portals join the dance
      • .
      • Naver Social Apps
      • .
      • Yozm by Daum
      • Results
        • Just started
        • No social graph
    • 24. Facebook Rising
      • Facebook in Korea
        • Usage growing
        • Local office
        • Hired from Cyworld
      • Why?
        • Users bored of Cyworld
        • Virtual goods market
        • Games market
    • 25. Virtual Worlds
      • 3D virtual worlds still early, even for Korea
        • Non-gaming not working
        • Nurien (3D social world) fail, revamp into social app
      • Only PuppyRed seems successful
        • Yet not that big…
        • $4M in 2008, equivalent to $40M in US? (= IMVU)
    • 26.  
    • 27. PuppyRed
    • 28. PuppyRed | Conversion
      • 225,000 MAU
        • 18,000 paying (8%)
        • Top 2,000 = 46% sales
      • Ideas
        • Ratio > Social games
        • 1% users = 50% sales
      Source: Inside Social Games, Oct 2010, PuppyRed data from Nov 2009 to Jan 2010
    • 29. PuppyRed | Monetizing
      • Time investment
        • Since reg.
        • In-world
      • Friends
        • More value to items
        • Gifts
      • Items balance
        • Limit free items
        • Large inventory (15,000+)
      Source: Inside Social Games, Oct 2010, PuppyRed data from Nov 2009 to Jan 2010
    • 30. Online Games
      • Online games market $3.3 billion?
      • Leaders Nexon, NHN, NC Soft
      • Expanding overseas China, Japan, US, Emerging markets
      Source: KOCCA
    • 31. Answer
      • #1 in Online Gaming
      • Pioneer in virtual goods
      • First MMO in 1996!
      Min Seo, CEO
    • 32. Nexon Today
      • Revenue 2009: $561 million (+56%)
          • Over half from overseas (first in 2009 !)
      • Some famous games
          • Kart Rider (200M reg. users)
          • Dungeon & Fighter (200M reg. users)
          • Maple Story (95M reg. users)
          • Mabinogi
          • Combat Arms (FPS)
          • Sudden Attack (FPS)
          • Etc.
      Source: Nexon
    • 33. Foreign Players in Korea?
      • Some limited successes…
    • 34.  
    • 35. And… Starcraft Cheating Scandal!
      • April-May 2010
      • Largest scandal in e-sports history in Korea
      • 16 pro gamers involved in match set-ups & illegal betting.
      Pro Gamer sAviOr (Ja Mae-Yoon)
    • 36. Japan
    • 37. Mobile SNS Make a Killing
      • Revenue total > $1 billion !
      • All 3 have a mobile app platform
      • Mass promotion TV, Billboards, Posters…
      • Publish + Develop 1 st , 2 nd , 3 rd Party dev.
    • 38. Mixi
      • Inspired by
      • 21 million users
        • 14 million MAU
      • Friends (PC)
      • Mobile (mobile)
      • FB (apps, “like”)
      • Twitter (micro-blog)
      • Pageviews
        • Mobile 28 billion PV
        • PC 5 billion PV
    • 39. Mixi
      • Revenue 2009 $166 million
        • Profit margin 20%
      • 2Q2010 $49M
        • Profit margin 25%
        • Run rate 2010 $200M
    • 40. Mixi | Users
      • Gender-Balanced
      • 90% above 20 y.o.
      Total Mobile Mobile Total
    • 41. Mixi | Pageviews Applications Platform 2009.08 Mobile 2009.10 PC Ad prices for mobile = 1/3 of PC price
    • 42. Mixi | Apps
      • Apps
        • PC > 1,000
        • Mobile > 600
      • Apps contribution
        • Minor for revenue <10%
        • High for PV
      • Smartphone UI “Mixi Touch”
      Machi Tsuku (3M MAU) by Unoh / Zynga Japan Source: Masaru Ikeda @ Asiajin
    • 43. Answer
      • CEO of DeNA
      • Operates “Mobile Game Town”, a top mobile SNS in Japan
      Tomoko Namba, CEO
    • 44. DeNA
      • Revenue 2009 $517 million
        • Profit 2009 $228 million (44%)
      • Revenue 2Q2010 $279 million
        • Profit 2Q2010 $138 million (49%)
        • 90% from digital goods
      • On track for $1 billion in 2010
    • 45. DeNA | Sales
    • 46. Mobile Game Town| Sales Breakdown 78% 12% 9% 1% $250 million (2010.04~06)
    • 47. Mobile Game Town | Users
      • 20 million users
      • 74% over 20 y.o.
    • 48. Mobile Game Town | Open Platform
      • 154 partners companies
      • 350 titles (July 2010)
      • In-house games too
      • Avatars in open platform games too
      • Common currency
    • 49. DeNA | Target: Global Leader
    • 50. Answer
      • CEO of GREE, top mobile SNS in Japan
      • #2 youngest self-made billionaire in the world (after Mark Zuckerberg)
      Yoshikazu Tanaka, CEO
    • 51. Gree Home Advertising Avatars & items Games Advertising & Affiliates B2C virtual goods (avatar + games)
    • 52. GREE | Service Strategy Media Ad Sales VG Sales Social Games Virtual Goods SNS Diary/Notes Q&A Community/BBS Page views Members GREE
    • 53. GREE
      • ARPU = $2.2 / month!
      • ARPPU > $20?
      20M $133M Users Revenue 2010.06 2010.04-06 Digital goods (82%) Ads (18%)
    • 54. GREE
      • Year to June 2010
        • Sales $430 million
        • Operating profit $240 million ( 56% )
      • Year to June 2011
        • Apr-Jun 2010 $133 million
        • 2011 revenue run rate >$600 million
    • 55. GREE | Monthly Page Views 35.7 Billion Google Images = 1 billion/day
    • 56. GREE
      • 2010.06 | Open platform
      • 2010.10 | Non-gaming apps (27 coming up)
    • 57. 2010.09 | GREE on iPhone ( + Android soon)
    • 58. Community Safety
      • DeNA
        • 861 employees…
        • Many doing content monitoring
        • Monitoring 24/7 since 2006.11
        • “Patrol Center” built in 2008.03
      Pipo-kun Tokyo Police Mascot Gree’s Patrol Center
    • 59. Have you heard of…?
    • 60. CyberAgent
      • History
        • Started as ad network
        • Branched into blogs (10M users) , virtual world & social games
        • 1,900 employees
      • Sales 2009 $1.1 billion
        • Profit 2009 $55 million
      • Sales 2010 (E) $1.1 billion
        • Profit 2010 (E) $98 million
    • 61. | Social Games
      • DeNA 10 titles
      • Gree 3 titles
      • Mixi 8 titles
      • Facebook 7 titles
    • 62.
      • $4M in July 2010
        • Run-rate 2010 = $50M ( > ngmoco ? )
      | Social Games
    • 63. | 2D Virtual World
    • 64.
      • Promotion
        • Leveraging Ameba’s blog platform
        • TV ads
      • Paying Users
        • 80% are 20 to 40 y.o.
        • 70% female
      • Payment
        • 68% Mobile, 20% Webmoney, 12% Credit Card
      | 2D Virtual World
    • 65.
      • April-June 2010 $10 million
      | Revenue split
    • 66. | Subs & ARPU
          • 4.3 million users (2010.06)
          • monthly ARPU = $15
    • 67. | Fishing Game
    • 68. Facebook Making Inroads
      • Facebook in Japan
        • Growing (1.2M)
        • Mobile JP version
      • Why?
        • GDP
        • Online advertising
        • Virtual goods
        • Mobile!
      KDDI’s Summer Line-Up
    • 69. Foreign Players in Japan
      • Zynga
        • Acquired local company Unoh
        • JV with Yahoo! Japan (#1 portal) for games
      • Chinese social games doing well
        • Rekoo , Rakoo , Elex
        • … but for how long?
      • Online games growing too
        • Perfect World (China) acquired local licensee
    • 70. China
    • 71. Social Games Growing But…
      • Fragmented market
        • 4 competing social networks
        • Facebook still blocked
      • SNS revenue not great (esp. for third parties)
        • Low advertising
        • Platforms develop games in-house
        • Rev share variable & often unattractive
    • 72. …Online Games Still Dominate
      • Online games biggest money maker
        • $900M in 2Q2010
        • Tencent (20%), Shanda (20%), Netease (13%)
      • Social networks channel users to MMOs
      • China = 30% of global online games market
        • $4 billion in 2010?
      Source: iResearch, Lazard Capital Markets
    • 73. Answer
      • CEO of Tencent!
      • #3 Internet company in the world
      Ma Huateng (Pony), CEO
    • 74. QQ IM & QZone
    • 75. Digital Goods?
      • Identity related
      • Game related
      • Music related
      • And more…
    • 76. Tencent Bigger Than Ever?
      • Sales 2009 $1.8 billion
        • Net profit 2009 42% (= $750M)
      • Sales 1H2010 $1.3 billion
        • Run rate 2010 (E) $2.5 billion (1/3 games)
        • Profit 2010 (E) $1 billion
      • Internet penetration still only 30%!
    • 77. PHOTO: MOBILE PHONE, BEIJING, APRIL 2010 © Benjamin Joffe / Plus Eight Star Ltd.
    • 78. PHOTO: MOBILE PHONE, BEIJING, APRIL 2010 © Benjamin Joffe / Plus Eight Star Ltd. Hardware Innovation: “Shanzhai” ( 山寨 )
    • 79. PHOTO: MOBILE PHONE, BEIJING, APRIL 2010 © Benjamin Joffe / Plus Eight Star Ltd.
    • 80. QQ Farm
    • 81. Rest of Asia
    • 82. Time-Shifted Markets
      • Vietnam
        • ~$150M from online games
        • 86 million people
        • 4-5 years behind china
      • Indonesia
        • #3 on Facebook!
        • 238 million people!
        • Behind Vietnam
      • Other places: Thailand (66M), Philippines (92M), etc.
      • Biggest potential: online games & mobile SNS
      Virtual Goods Time Machine
    • 83. Mig33
      • “We have decided we want to be like QQ for mobile in the rest of the emerging world .”
        • Steven Goh, CEO
      Source: VentureBeat , March 2010
    • 84. Mig33
      • “We have decided we want to be like QQ for mobile in the rest of the emerging world .”
        • Steven Goh, CEO
      Source: VentureBeat , March 2010 Made in China Not iPhone! Not rich countries!
    • 85. About Mig33
      • Nationality
          • Founders from Australia
          • Moved to Silicon Valley
          • Relocated to Singapore
      • Users
          • India, Indonesia, Bangladesh, Vietnam, South Africa…
    • 86. Conclusions
    • 87. Conclusions
      • Social games = growing fast
      • Online games still > Social games (except Japan)
      • Massive ads (TV, billboards, etc.) if ROI is good!
      • Media properties entering social (portals, blogs)
      • SNS can channel users to MMOs with better ROI
      • Mobile great in emerging & advanced markets
    • 88. Conclusions
      • CJK companies expanding globally
      • Transition to digital goods is a tidal wave
      • Epiphanies in the West like Korea 10 years ago
    • 89. Asia: $7 Billion USA: $1 Billion US market potential $35 Billion ? Digital Goods in 2009 Source: +8* , October 2009
    • 90. Digital Goods in 2010 Asia: $10 Billion USA: $2 Billion Source: +8* , October 2010
    • 91. $100 billion within the decade?
      • “ The virtual goods market would likely exceed globally $100 billion within this decade .”
      Trip Hawkins CEO, Digital Chocolate Founder, Electronic Arts Source: Trip’s OMG Blog , April 2010
    • 92. Market Potential?
      • From analog to digital
        • Global video game market $35 billion
        • In Korea >50% of ALL GAMES = online games
      • Potential = all games in the world
        • Global game market $120 billion
        • With digital goods dominant model?
    • 93. Globalization Durian Strudel (Singapore)
    • 94. Ideas, Talent & Markets
      • Ideas First farm game = made in China!
      • Dev. Zynga (JP, CN) Playfish (CN) Kabam (CN)
      • Market Facebook (JP, KR, SG, SEA w/ MOL) Zynga (JV with Softbank for JP) Rockyou (JP), Others?
    • 95. Platform Partnership
      • Cyworld, Mixi, RenRen join forces for one-stop “Social Application Platform”
      • Catching up on analytics to leapfrog Facebook?
      • For reference
          • Cyword 25M users (1999, Korea)
          • Mixi 21M users (2004, Japan)
          • RenRen 150M users (2005, China)
      Source: Mixi , September 2010
    • 96. Virtual Goods in Asia The US Gold Rush Begins Benjamin Joffe | CEO, Plus Eight Star Virtual Goods Summit, San Francisco | 2009.10 Chinese family in Oregon during the Gold Rush
    • 97. Nexon
      • Ndoor M&A 2010.05 Korea
      • GameHi M&A 2010.05 Korea
      • BoomBang Invest. 2010.10 Spain
      • Disney offering $6 billion ? (rumor)
          • EA’s market cap is $5.8 billion… (2010.10)
      Source: +8*, Nexon
    • 98. DeNA
      • ngmoco:) M&A USA
      • Astro Ape Invest. USA
      • Aurora Feint Invest. USA
      • GameView M&A USA
      • Icebreak M&A USA
      • TX.com.cn M&A China
      • Social Gaming Fund of $27.5 million
    • 99. Tencent
      • Sanook Invest. 2010.08 Thailand
      • Comsenz M&A 2010.08 China
      • Shenzhen DN M&A 2010.04 China
      • DST Invest. 2010.04 Russia
      • Riot Games Invest. 2009.09 USA
      • Outspark Invest. 2008.01 USA
    • 100. Other Chinese Companies
      • Emerging markets, Japan, US
      • Rekoo & Yicha doing great with social games
      • Shanda buys Mochi Media (2010.01, $80M)
    • 101. China + Russia + South Africa 29% 10% 35% $35B $3B $18B Source: +8* , October 2010
    • 102. DST | Digital Sky Technologies
      • Invested $180M in Zynga
      • Invested ~$350M in Facebook (~10%)
      • Invested $135M in Groupon
      • Acquired ICQ for $188M
      • Mail.ru (portal), Astrum (games)
        • 70% of all PV in the Russian speaking Internet
    • 103. NASPERS
    • 104. From Asia to the World Durian Strudel (Singapore)
    • 105. Paradise Paintball by Cmune
      • World’s first FPS on social networks!
      • Over 500,000 users in open beta
        • “ Paradise Paintball – you feel like you’re playing a console game.” - Gareth Davis, Games Platform Manager, Facebook
        • “ Abandoned my clan, crops have withered and my cafe has gone bankrupt. Thank you for creating the first real game on Facebook!” – Facebook user
    • 106. Paradise Paintball | World’s First Social FPS! www.facebook.com/paradisepaintball www.cmune.com Disclosure I am an investor in Cmune
    • 107.
        • What we do
            • Best practices from Asia
            • Digital Research & Strategy
        • Clients sample
        • Contacts
            • [email_address]
            • @benjaminjoffe
            • www.slideshare.net/plus8star
      Asia is part of your world too! +81 | Japan +82 | Korea +86 | China Telecom & Internet + Added Value * High quality