Chinese internet behemoth Alibaba Group is investing $120 million in California-based gaming company Kabam. The two companies have also inked a partnership agreement, under the terms of which Alibaba will be publishing and distributing Kabam’s free-to-play mobile games.
Citigroup Global Markets acted as lead financial advisor to Kabam. J.P. Morgan also was financial advisor to Kabam. O’Melveny & Myers erved as legal advisor to Kabam.
Kabam closed 2013 with over $360 million in revenues. Other Kabam investors include Google Ventures, Warner Bros., MGM, Intel, Canaan Partners, Redpoint Ventures, and Pinnacle Ventures, among others.
[Image courtesy: Kabam]