Perfect World (company) explained

Perfect World Co., Ltd.
Native Name:Chinese: 完美世界股份有限公司
Romanized Name:Wánměi shìjiè gǔfèn yǒuxiàn gōngsī
Type:Public
Industry:Video games
Founder:Chi Yufeng
Hq Location City:Beijing
Hq Location Country:China
Owner:Perfect World Investment & Holding Group (controlling interest)
Num Employees:4,500
Num Employees Year:2013

Perfect World Co., Ltd. (Chinese: 完美世界股份有限公司) is a Chinese mass media company based in Beijing. It was founded in 2004 by Chi Yufeng. The company consists of two business segments: Perfect World Games, a video game publisher, and Perfect World Pictures, a film production company.

Perfect World is the exclusive distributor of Valve's games Dota 2 and Counter-Strike 2 in China.[1]

History

Perfect World was founded in 2004 by Chi Yufeng.[2] [3] A 1994 graduate of Tsinghua University, Chi had founded Beijing Hongen Education and Technology in 1996, which sold educational software to teach Chinese consumers how to use personal computers and learn English. He established Perfect World, then also known as Perfect World Games, as a developer and publisher of online multiplayer video games. The company became listed on the Nasdaq stock exchange in 2007. In 2008, Chi founded the film production company Perfect World Pictures. After Perfect World Games was delisted from Nasdaq in 2015, it was merged with Perfect World Pictures, which was traded on the Shenzhen Stock Exchange, in 2016. The combined company was renamed Perfect World. Perfect World Investment & Holding Group (Chinese: 完美世界控股集团有限公司), a holding company founded by Chi on 14 August 2013, owns a controlling interest in Perfect World.[4]

Perfect World bought the developer Cryptic Studios from Atari, SA in May 2011 for .[5] The transaction was completed by August that year.[6]

Perfect World Entertainment was Perfect World's North American video game subsidiary. It was established in June 2008.[7]

In December 2021, Perfect World sold Perfect World Entertainment and Cryptic Studios to Embracer Group.[8] In June 2024, Perfect World reportedly laid off over 1,000 employees.[9]

Subsidiaries

Perfect World Europe

Perfect World Europe B.V. is Perfect World's European video game subsidiary. It was established in early 2010 in Amsterdam.[10] Gabriel Hacker was appointed as Perfect World Europe's general manager in May 2012.[11] In early 2020, a large portion of the company's staff was laid off, leaving only the finance, customer support, and localisation departments.[12] The subsidiary formerly owned Perfect World Entertainment, the publishing arm of the company which was sold to Embracer Group in 2021.[13]

Runic Games

See main article: Runic Games. Runic Games was a developer founded in 2008 and based in Seattle.[14] Perfect World acquired a controlling interest in the studio in May 2010 for .[15] On 3 November 2017, Perfect World shut down Runic Games, citing the publisher's focus on games as a service.[16]

Collaborations with Valve

On 25 February 2016, Perfect World hosted Dota 2s Shanghai Major. While the tournament itself was well received in regards to the player performances, the event garnered criticism due to delays on stream, spotty broadcasts, and various other problems within the tournament, including the theft and deterioration of the competing teams' equipment.[17] In the month that followed the event, the president of Perfect World, Yunfan Zhang, apologised for the issues with the event.[18]

In June 2018, Perfect World and Valve announced that they were developing a version of Valve's Steam service for the Chinese market.

Games developed

Notes and References

  1. Web site: Perfect World and Valve partner to launch Steam in China . David . Lumb . 11 June 2018 . . 6 May 2021 . 13 February 2021 . https://web.archive.org/web/20210213195329/https://www.engadget.com/2018-06-11-steam-china.html . live.
  2. Web site: Tech entrepreneur Chi Yufeng sees opportunity in every situation . Phyllis . Ho . 22 June 2015 . . 6 May 2021 . 30 April 2017 . https://web.archive.org/web/20170430094641/http://www.straitstimes.com/business/tech-entrepreneur-chi-yufeng-sees-opportunity-in-every-situation . live.
  3. Web site: Chinese gaming company Perfect World just picked up a few Oscars . Yingzhi . Yang . Jane . Li . 5 March 2018 . . 6 May 2021 . 9 November 2020 . https://web.archive.org/web/20201109032436/http://www.scmp.com/tech/enterprises/article/2135820/chinese-gaming-company-perfect-world-just-picked-few-oscars . live.
  4. 完美世界股份有限公司 – 2019 年年度报告 . zh . Perfect World Co., Ltd. – Annual Report 2019 . Perfect World . 23 April 2020 . 57 . 6 May 2021 . 6 May 2021 . https://web.archive.org/web/20210506110515/https://www.pwrd.com/en/presentation/regular/20200424_1.pdf . live.
  5. Web site: Perfect World acquires Cryptic Studios for $50 million . Matt . Martin . 31 May 2011 . . 6 May 2021 . 16 March 2021 . https://web.archive.org/web/20210316044218/https://www.gamesindustry.biz/articles/2011-05-31-perfect-world-acquires-cryptic-studios-for-USD50-million . live.
  6. Web site: Perfect World Entertainment completes acquisition of Cryptic Studios . Matt . Daniel . 10 August 2011 . . 6 May 2021 . 6 May 2021 . https://web.archive.org/web/20210506110519/https://www.engadget.com/2011-08-10-perfect-world-entertainment-completes-acquisition-of-cryptic-stu.html . live.
  7. Web site: Perfect World Acquires Majority Stake In Torchlights Runic . Leigh . Alexander . Leigh Alexander (journalist) . 17 May 2010 . . 6 May 2021 . 24 September 2015 . https://web.archive.org/web/20150924131626/http://www.gamasutra.com/view/news/119531/Perfect_World_Acquires_Majority_Stake_In_Torchlights_Runic.php . live.
  8. Web site: Takahashi . Dean . 2021-12-21 . Embracer Group buys Perfect World Entertainment for $125M . 2024-06-27 . VentureBeat . en-US.
  9. Web site: Carter . Justin . June 26, 2024 . Perfect World cuts staff in multi-unit layoffs, reportedly suspends game projects . 2024-06-27 . www.gamedeveloper.com . en.
  10. Web site: Forsaken World Launches Early on March 9th . 2 March 2011 . . 6 May 2021 . 25 November 2018 . https://web.archive.org/web/20181125234701/https://www.ign.com/articles/2011/03/02/forsaken-world-launches-early-on-march-9th . live.
  11. Web site: New GM for Perfect World Europe . Rachel . Weber . 2 May 2012 . . 6 May 2021 . 6 December 2017 . https://web.archive.org/web/20171206200120/http://www.gamesindustry.biz/articles/2012-05-02-new-gm-for-perfect-world-europe . live.
  12. Web site: Layoffs reported at Perfect World Europe . Haydn . Taylor . 15 January 2020 . . 6 May 2021 . 28 April 2021 . https://web.archive.org/web/20210428091729/https://www.gamesindustry.biz/articles/2020-01-15-layoffs-reported-at-perfect-world-europe . live.
  13. Web site: Embracer Group enters into agreement to acquire Perfect World Entertainment . 2023-12-30 . Embracer Group . en-US.
  14. Web site: Torchlight developer Runic Games shuts down . Julia . Alexander . 3 November 2017 . . 6 May 2021 . 9 November 2020 . https://web.archive.org/web/20201109031223/https://www.polygon.com/2017/11/3/16605008/runic-games-closes-motiga-layoffs . live.
  15. Web site: Perfect World acquires majority stake in Runic Games . Kath . Brice . 18 May 2010 . . 25 April 2021 . 25 April 2021 . https://web.archive.org/web/20210425114938/https://www.gamesindustry.biz/articles/perfect-world-acquires-majority-stake-in-runic-games . live.
  16. Web site: Perfect World shuts down Runic Games studio . Alissa . McAloon . 3 November 2017 . . 25 April 2021 . 25 April 2021 . https://web.archive.org/web/20210425114937/https://www.gamasutra.com/view/news/308970/Perfect_World_shuts_down_Runic_Games_studio.php . live.
  17. Web site: Disastrous DOTA 2 Tournament Ends With Missing Gear, Pissed Off Players . Nathan . Grayson . 7 March 2016 . . 6 May 2021 . 7 November 2020 . https://web.archive.org/web/20201107230623/https://kotaku.com/disastrous-dota-2-tournament-ends-with-missing-gear-pi-1763412162 . live.
  18. Web site: Perfect World apologises for Shanghai Major mess . Angus . Morrison . 12 April 2016 . . 6 May 2021 . 27 November 2020 . https://web.archive.org/web/20201127041724/https://www.pcgamer.com/perfect-world-apologises-for-shanghai-major-mess/ . live.
  19. Web site: Final Fantasy Type-0 Online announced for PC and smartphones . Sal . Romano . 19 September 2015 . Gamasutra . 6 May 2021 . 16 February 2021 . https://web.archive.org/web/20210216004809/https://www.gematsu.com/2015/09/final-fantasy-type-0-online-announced-pc-smartphones . live.

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