With Tencent's backing, it appears that Glu is going to broaden its presence in China, said Benchmark analyst Mike Hickey.
"The effective localization and publishing of a celebrity related mobile game for the China market could provide a significant performance boost," Hickey said.
Niccolo De Masi: Tencent is the equivalent of Facebook plus the largest gaming company in the world. They did $13 billion in revenue last year, 57 percent of which was gaming revenue. The rest was messaging and various other Internet services. They’re able to link games into their distribution network to maximize reach.
What we’re doing with the celebrity [game] platform kind of parallels what they’re doing with social. Gaming is the best monetization source for a social graph. I’m trying to monetize the social following of celebrities and share, significantly, some of those revenue streams with celebrities.
“Tencent is arguably the biggest gaming company in the world,” Glu CEO Niccolo De Masi said. And that might not be an understatement. Tencent is the biggest game company in China, and it has stakes in big Western game makers such as Epic Games, Riot Games (whose League of Legends is one of the biggest money-making games in the world), and Activision.
Glu is also making games based on the lives of Katy Perry, Kendall and Kylie Jenner, and now Britney Spears.
Glu Mobile Inc. (NASDAQ:GLUU) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $(0.05)-(0.03) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.01
Glu Mobile Price Target Raised to $9.50 (GLUU)
Dakota Financial News - 1 hour ago
Glu Mobile logo Equities researchers at Northland Securities raised their target price on shares of Glu Mobile (NASDAQ:GLUU) from $7.50 to $9.50 in a research report issued on Thursday. The firm currently has an “outperform” rating on the stock. Northland ...
we might see $7 -7,30 very fast