Fishing Joy Developer Punchbox Raised US$ 14 M In Series B

Punchbox, the game vendor behind hit iOS game Fishing Joy(), has just raised over US$ 14 million in Series B from Sequoia China and Steamboat Ventures with a total funding of over 15.6 million to date, according to its founder and CEO Chen Haozi.

The iPhone game went popular since its debut on App Store in April of this year and was featured on the homepage of App Store for six weeks. Punchbox launched the iPad version upon Apples request later on.

As of now the game that let users cast virtual net to catch fish has a total of over 10 million downloads with 1.2 million of active users. Its free to download from App Store and play while users can buy virtual coins in the game (US$ 0.99 for 200 coins). Chen said that the game has a total revenue of more than US$ 750,000. Its noteworthy that the Punchbox team also spent more than 450,000 to promote the game.

As for the future planning, Chen disclosed that Fishing Joy will be equipped with Ad System which offers developers with cross-promotion and traffic-exchange.

Chen also said that the company would invest US$ 3.12 million to support minor developers.

Related posts:

  • VIPShop raised $50 million in Series B from DCM and Sequoia
  • Virtual Coins, Chinese Open Platforms Trying Monetization
  • App Annie Got Series A investment from IDG Capital Partners



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