Small online gaming startup now has revenue over 100m yuan
Print Edition
Wu Bo founded Shanghai Muhe Network Technology, a company specializing in developing games on multiple platforms, at Tanjia 28 Business Information Center in Putuo three years ago.
From a small startup company with only 20 staff members and one game, Muhe has become a major player in the video game industry.
It now has 400 employees and has developed 40 games, and the company’s annual revenue exceeds 100 million yuan (US$16.4 million).
Wu, originally from Yunnan Province, graduated from Chongqing University of Posts and Telecommunications in 2002 with a degree in communication engineering. After college, he tried starting his own companies, but he was hit by the financial crisis in 2008. He not only lost the money he made, but also was left with debts.
He didn’t give up, though. In 2010, he and two other partners decided to try the video game industry, which they thought had promise.
“Though developments happened quickly after we took the first step, manageable progress is still a priority. We had to make sure everything was right from the beginning,” Wu said.
In the past two years, Muhe has invested its profits in research and development and building platforms, which will benefit the company in the long run.
“We need professional people to do professional things,” he said.
“I know a lot of video game companies failed because the executives do the planning and development themselves, they ask their teams to duplicate whatever’s profitable in the market, and the end result turns out to be neither fish nor fowl.”
In September, Muhe Network was recognized as one of the top 10 promising entrepreneurial businesses in Shanghai.
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