# G-bits Network Technology Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/g-bits-network-technology-co

- Industry: Software
- Headquarters: Xiamen, China
- Website: www.g-bits.com
- Total disclosed funding: $4M
- Latest round: Series B (Jul 17, 2009)
- Investors on record: 1

## About

G-bits Network Technology Co. Ltd is a gaming company specializing in the development and operation of online games, providing engaging interactive experiences tailored for diverse audiences.Founded in 2004 in Xiamen, China, G-bits Network Technology Co. Ltd focuses on online gaming. The company has completed 5 deals, with its most recent funding round being a SECONDARY STOCK PURCHASE on January 4, 2017, raising CNY 290.16 mn from investors including Fortune Capital, IDG Capital, and Ping An Caizhi Investment Management. The total amount raised to date is CNY 1.44 mn. The CEO and founder, Huazhou Su, has previously established other ventures contributing to the company's strategic direction.G-bits Network Technology Co. Ltd specializes in planning, developing, and operating online games, offering interactive gaming experiences. Notable products include 'Asktao' and 'Overmortal', targeting both casual and dedicated gamers. 'Asktao' combines text-based MUD elements with real-time gaming, while 'Overmortal' focuses on Taoist spiritual cultivation. The company caters primarily to the Asian market, with a growing global presence, boasting nearly 1 million concurrent players for 'Asktao' and a community of 25 million for 'Overmortal'.In the most recent fiscal year of 2021, G-bits recorded a revenue of CNY 715,957,077.9 and an EBITDA of CNY 340,528,699.3. Revenue is generated primarily through in-game transactions, with a direct-to-consumer model enabling players to purchase in-game currency and items. Partnerships with app stores further facilitate revenue through game downloads and in-app purchases.G-bits Network Technology Co. Ltd plans to launch several new products in the near future, although specific release dates have not been disclosed. The company aims to expand into markets such as North America and Europe by leveraging its existing player base and enhancing its marketing strategies. The funds raised during the SECONDARY STOCK PURCHASE in January 2017 will be utilized to support these initiatives, including product development and market expansion efforts.

## Funding rounds

- Series B, Jul 17, 2009, $1.5M — IDG Capital
- Series A, May 1, 2007, $2.6M — IDG Capital

## Investors

- IDG Capital (https://capitalatlas.ai/funds/idg-capital) — Series A, Series B