Red 5 Studios gets $18.5 million in VC funding

Red 5 Studios, a video game development company founded by former members of Blizzard Entertainment's World of Warcraft team, has landed $18.5 million in new venture capital.

According to Reuters, the funding came from Benchmark Capital and Sierra Ventures, firms that have previously invested in online or multiplayer companies.

Red 5 plans on making original content for distributors of online games, Reuters reported, and already has a deal to create a title for South Korea's Webzen.

About the author

Daniel Terdiman is a senior writer at CNET News covering Twitter, Net culture, and everything in between.


Join the discussion

Conversation powered by Livefyre

Show Comments Hide Comments
Latest Galleries from CNET
Best mobile games of 2014
Nissan gives new Murano bold style (pictures)
Top great space moments in 2014 (pictures)
This is it: The Audiophiliac's top in-ear headphones of 2014 (pictures)
ZTE's wallet-friendly Grand X (pictures)
Lenovo reprises clever design for the Yoga Tablet 2 (Pictures)