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Nubee Secures $13M

2011-10-12
Singapore based social gaming company, announced today the completion of its first round of funding of approximately $13 million from JAFCO Co., Ltd, the largest VC firm in Japan.
SINGAPORE, Singapore-based mobile gaming company Nubee, one of the world's fastest growing social games companies, announced today the completion of its first round of funding of approximately *USD13 million from JAFCO Co., Ltd, the largest VC firm in Japan. Founded in November 2010 in Singapore, the funding will be injected through Nubee's parent company, Vega Corporation Co., Ltd in Japan.

Nubee's rapid success in the mobile entertainment space is evidenced by its record of profitability from August this year, barely 10 months since its start-up. With 8 game titles under its belt, its first social game - Japan Life, recorded an unprecedented 2.5 million downloads over 2.5 months. Japan Life, launched in July 2011, has gained No.1 ranking in China's App Store in August as well as high rankings in US and Japan.

"We are very pleased with the funding support from JAFCO," said Mr. Tomokazu Ukishiro, CEO of Nubee and Vega Corporation. "With this funding, we can now scale up even faster and wider. We are already in the process of hiring more talented developers. We envisage doubling our current staff strength of 60 in 6 months' time. We have found our strengths in social games and will continue to focus on developing more social games for the world."

Mr. Shinichi Fuki, president and CEO of JAFCO, added, "We see a huge market potential for Nubee's global business strategy for social games on smart devices. We are impressed with their rapid growth in terms of sales and profitability. We also like their unique monetization model which, we believe, is gained from their experiences in Vega's success in the competitive e-commerce market in Japan. With our extensive global network and Nubee's strong management team, we can surely expand the business quickly worldwide."

Nubee is the up-and-coming mobile entertainment company in Singapore to watch. We have a team of energetic mobile gaming talents whose passion is to develop top grade fun and exciting games. We have published games like Japan Life, Coin Pirates, and Coins VS Zombies which are seeing millions of active users monthly. Undoubtedly, mobile smart devices will continue to grow at an unbelievable pace as we have seen so far.

*Actual funding is 1 Billion Japanese Yen

About Nubee Pte Ltd
Nubee Pte Ltd is a Singapore-based game development studio. Founded in November 2010, we aim to make great next-gen social games that will connect people globally. Our games are free-to-download on smart mobile devices and are highly addictive and incredibly fun.

Our popular titles include Japan Life, Coin Pirates and Coins VS Zombies. Nubee is a wholly owned subsidiary of Vega Corporation Co., Ltd. Japan Life ranked among the TOP GROSSING OVERALL in App store worldwide, including United States, Japan, France, China, New Zealand, Hong Kong, Taiwan, Thailand, Malaysia, Singapore, Canada, Australia and many others.
For more information, please visit www.nubee.sg.

About Vega Corporation Co., Ltd
Vega Corporation Co., Ltd is a Japanese company based in Fukuoka. Its primary business is e-commerce of casual furniture such as office chairs, desks and sofas. Vega operates a popular e-commerce website in Japan called "Low-YA".
For more information, please visit www.vega-c.com
(Japanese only).

About JAFCO Co., Ltd
JAFCO is one of the largest private equity firms in Japan. Its primary focus is to invest in promising enterprises with high growth potential, then to draw on its extensive resources and network to take them to the next stage of growth. Headquartered in Tokyo, and with four branches in Japan and its subsidiaries' entities in Singapore, Shanghai, Beijing, Taipei, Seoul and Silicon Valley, JAFCO has over USD 6B under management and is listed on the Tokyo Stock Exchange.





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