Movida Group, a SoftBank and Asian Groove joint venture, invest EUR 6 million in Habbo, the leading online teen community and brand
Tokyo, Japan, July 10, 2006 – Sulake Corporation, which operates the leading
online teen community Habbo, has started a new strategic cooperation in Japan. Movida Group – a
joint venture by SoftBank BB Corp. and Asian Groove – has agreed to invest 6 million Euros of
equity into Sulake Corporation. The investment is executed through Movida Investment International.
Sulake is an interactive entertainment company focused on online communities and casual
multiplayer games. Sulake was established in 2000 and it has more than doubled its annual revenues
each year.
Sulake is an interactive entertainment company focused on online communities and casual
multiplayer games. Sulake was established in 2000 and it has more than doubled its annual revenues
each year.
Sulake's main product is Habbo, a new type of youth brand based on Habbo Hotel, one of the
world's fastest growing online communities for teenagers. To date, over 53 million Habbo characters
have been created, with close to seven million unique users visiting the Habbo community each month
worldwide. The Habbo brand is currently being extended also to include e.g. animation series as
well as merchandising and licensing products.
Movida Group is a joint venture by SoftBank BB, a SoftBank Group company, and Asian Groove,
one of Asia's leading interactive entertainment companies.
Timo Soininen, CEO of Sulake Corporation, commented:
"We are happy to have such respected companies as our partners. Their investment and
know-how will help us to grow both the Habbo Online community as well as new Habbo brand
extensions, such as Habbo Mobile."
Taizo Son, President of Asian Groove, commented:
"Habbo Hotel has very superior functions as an online community, and we believe it has an
enormous growth potential in Japan. We would like to utilize our Group synergy and support Habbo
not just in Japan but also in the rest of Asia."
About Sulake:
Sulake is an interactive entertainment company focused on online communities, casual
multiplayer games and social media. Sulake's main product is Habbo, a new type of youth brand,
which is based on one of the world's fastest growing online communities for teenagers - Habbo
Hotel. There are localized Habbo Hotels in 18 countries on five continents supported by a payment
network spanning 30 countries. To date, over 53 million Habbo characters have been created and
close to 7 million unique users worldwide visit Habbo communities each month (source: Nielsen
Netratings, June 2006).
The main shareholders in Sulake include Taivas Group, 3i Group plc, Elisa Group and
Benchmark Capital followed by the company's founders Sampo Karjalainen and Aapo Kyrölä, Sulake's
CEO Timo Soininen and other personnel.
Sulake has headquarters in Finland and offices in 17 countries. Currently the company has 270
employees worldwide. Sulake is extending the Habbo brand to include e.g. animation series as well
as merchandising and licensing products.
www.sulake.com
www.habbo.jp
About Movida Group:
Movida Group, held by Movida Holdings Inc., is a joint venture founded in December 2005 by
SoftBank BB Corp. and Asian Groove. Movida Group companies are focused on a wide range of broadband
contents, from gamesto web services and applications.
www.movida.jp
About SoftBank BB:
SoftBank BB Corp., a wholly owned subsidiary of SoftBank Corporation, is providing Internet
contents, fiber to the home (FTTH), IT related distribution and services.
www.softbankbb.co.jp
About Asian Groove:
Asian Groove, founded in 1996 by Taizo Son, is a holding company of broadband online
entertainment companies.
www.asian-groove.com
For more information, please contact:
Juha Hynynen, COO, Sulake Corporation Oy, tel. +358 50 3889485
Takahito Uezono, Country Manager/Representative Director, Habbohotel Japan KK,
takahito.uezono@sulake.com