The Former Blizzard Staff Resign to Start Up

Feb 5th, the RED 5 studio, composed of former "Warcraft of the World" core creative team, claimed that a co-headquarter would be set up in Shanghai.

RED 5 Studio's aim is to develop MMOs. This company will design and develop north-America- and-Asia-oriented productions with collaboration separately in Shanghai and California.

RED 5 has raised 150 million RMB as the series-B fund invested by BENCHMARK CAPTITAL and SIERRA VENTURES, for the construction of global studio. SIERRA is one of the strategy investor of GOBI VENTURES, which is a venture capital company in Shanghai, focusing on the digital media field.

Now, the Asia-pacific region has been the largest online games market. It was surveyed that 25% of the users in this region played MMOGs. The demestic consumption has reached more than 3.9 billion RMB per year in China.