Shanda
Formerly | Shanda Interactive Entertainment Limited ( Investment firm |
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Founded | 1999 in Shanghai, China |
Founders |
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Headquarters | , |
Number of locations | |
Areas served | Multinational |
Key people |
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Number of employees | 50 (2018) |
Website | shanda.com |
Shanda Group is a
History
1999-2003: Start in online gaming
Shanda Interactive Entertainment Limited was founded in December 1999 by
Expanding out of Shanghai city by city, Shanda Interactive shared its revenue with regional telecommunications companies.
2004-2005: IPO and acquisitions
Legend of Mir 2 and World of Legend accounted for 87.5 percent of Shanda Interactive's revenue in the first quarter of 2004. To reduce dependence on those two games, Shanda released the self-developed game The Sign in February 2004, and by April was also working on the in-house titles Age and Magical Land.
Shanda purchased about 20% of
2005-2007: Free-to-play model
In the summer of 2005, Shanda Interactive's revenue dropped significantly as its old hit Legend of Mir II began to lose subscribers.
In July 2006,
2008-2009: Shanda Literature
Shanda Games Limited had become a business unit of Shanda Interactive by early 2008,
2009-2013: Spinoffs and privatization
In 2008, Shanda Interactive paid $80 million to acquire Mochi Media, an online game distributor in the United States.[37] Shanda was the "largest online entertainment provider in China" by early 2009.[31] That April the company reported that its MMORPG Aion had acquired 1 million paying users within four days of its release.[28] In 2009, the company spun off Shanda Games in the largest IPO with the ticker GAME[7] in the United States that year,[9] raising $1.04 billion.[10][8] At the time, Shanda Games provided 77 percent of Shanda Interactive's revenue, although the company also continued to be active in online literature, video, and other forms of entertainment.[37] Shanda Literature controlled 90 percent of the online reading market in China by early 2010.[38] That year Shanda Interactive recorded operating revenues of $232.3 million, 2% higher than the prior year.[39]
By the fall of 2011, Shanda Interactive offered MMORPGs, casual games, film, music, and literature on an "integrated service platform." With most of its audiences in China, the company had subsidiaries and affiliates such as
Shareholders of Shanda Interactive Entertainment voted "overwhelmingly" in February 2012 to accept a buyout from the company's three founders.[37] Paying $740 million for about 25 percent of the shares,[37][41] Chrissy Luo, Tianqiao Chen, and Danian Chen took Shanda Interactive private in a deal that valued the company at $2.3 billion.[11][42] According to the New York Times, it was "one of the biggest such deals involving a Chinese company."[37]
2014-onwards: Shanda Group investment firm
By the time Tianqiao Chen sold his stake in Shanda Games in 2014, Shanda Group had become an investment firm focused on the internet and finance.[43] After expanding Shanda with a series of rapid acquisitions,[37] by 2015 Shanda had invested in 140 companies.[44] In 2016, Shanda Group acquired stakes in LendingClub, Legg Mason, and Sotheby's. After acquiring a 9.9 percent stake in Baltimore's Legg Mason that April,[3] Shanda Group increased its stake in Lending Club to 15.1 percent in June,[45] making it the company's single biggest investor. Shanda Group sold its 2 percent stake in Sotheby's in August 2016. By December 2016 it had also purchased a 13.8 percent stake in Community Health Systems.[3] That month Shanda Group increased its stake in Legg Mason to 15%, remaining the largest shareholder. Shanda Group also gained two board seats in Legg Mason in 2017[46] and advised customizing Legg Mason's investment products for clients in China. At the start of 2017, Shanda Group had $8 billion in net assets under management.[3]
By 2018, Shanda Group invested in public markets, real estate and venture capital, focusing on companies in the fields of healthcare, financial services, media, and technology. Shanda remained the largest shareholder in Lending Club and Community Health Systems, maintaining a minority stake in Legg Mason. By 2018, the venture capital arm of Shanda Group had invested in around 120 companies in China focused on internet and mobile software, and also had investments in around 30 "advanced technology companies" in
Locations
As of 2018, Shanda Group has offices in Shanghai, Hong Kong, Singapore, New York and Menlo Park.[1]
See also
References
- ^ a b c "About". Shanda.com. Archived from the original on 2018-12-06. Retrieved 2018-12-05."Contacts". Shanda.com. Retrieved December 5, 2018.
- ^ "Shanda Group Pte Ltd". Bloomberg. Retrieved November 20, 2018.
- ^ a b c d e Vasagar, Jeevan (December 26, 2016). "Chinese billionaire with ambitions to reshape investment models". Financial Times. Retrieved December 5, 2018.
- ^ "Book publishers fear advance of digital 'glacier' - Feature". Earthtimes.org. Archived from the original on 2016-03-03. Retrieved 2014-08-06.
- ^ a b c Lv, Jiayu (2009-04-26). "(Simplified Chinese) Shanda MIR Copyright Infringement Legal Case Finally Settled in Second Half of 2009". games.qq.com. Tencent. Retrieved 2010-01-03.
- ^ a b c d e f g h Roth, Daniel (October 4, 2004). "In Search of China's Bill Gates". CNN. Retrieved November 29, 2018.
- ^ a b c Savitz, Eric. "Oy, What A Shanda: Chinese Gaming IPO Flops". www.barrons.com. Retrieved 2020-04-20.
- ^ a b c d e f g h "Shanda Entertainment History". Shanda.com. Retrieved November 29, 2018.
- ^ a b c Sayantani, Ghosh (October 17, 2011). "Shanda Interactive CEO offers to take company private". Reuters. Retrieved November 20, 2018.
- ^ a b c d Rege, Alyssa (August 17, 2017). "Why Chinese billionaire Tianqiao Chen transitioned from investing in video games to CHS, neuroscience". Beckers Hospital Review. Retrieved December 6, 2018.
- ^ a b Chatterjee, Soham (November 22, 2011). "Shanda Interactive CEO to take company private". Reuters. Retrieved December 5, 2018.
- ^ a b c "Top 10 biggest IPOs by game manufacturers". China Daily. June 17, 2014. Retrieved November 20, 2018.
- ^ a b "Danian Chen". Bloomberg. Retrieved November 29, 2018.
- ^ a b "Shanda buys large stake in Sina portal". China Daily. February 21, 2005. Retrieved December 5, 2018.
- ^ a b c d e f Flannery, Russell (May 23, 2005). "House of Flying Fingers". Forbes. Retrieved December 5, 2018.
- ^ a b c d Fair, Stephan (November 28, 2005). "Shanda, China's hottest online-game company, is betting that it can become an entertainment giant". Fortune. Retrieved December 5, 2018.
- ^ Logan, Michael (April 6, 2004). "Shanda aims to raise US$200m through Nasdaq listing". South China Morning Post. Retrieved December 6, 2018.
- ^ a b Dao, Wen (November 8, 2006). "Shanda to sell 40% of Sina stake". China Daily. Retrieved December 6, 2018.
- ^ a b "China's Shanda buys stake in Sina". BBC. February 21, 2005. Retrieved December 5, 2018.
- ^ "China's richest get gloriously richer". Archived from the original on 2018-12-23. Retrieved 2018-12-22.
- ^ The Financial Times. December 15, 2005. Retrieved December 5, 2018.
- ^ a b c d Dickie, Mure (February 28, 2006). "Shanda profit hit by free-to-play model". Financial Times. Retrieved December 5, 2018.
- ^ a b c Dickie, Mure (February 13, 2007). "Shanda shake-up delivers boost to sales". Financial Times. Retrieved December 5, 2018.
- ^ a b Tang, Jun (2007-02-13). "(Simplified Chinese) Shanda Responds to Customer Self-Immolation Case with the Help of Police". it.sohu.com. SOHU.com. Archived from the original on 2011-02-09. Retrieved 2010-01-03.
- ^ "Motorola to carry Shanda wireless games".
- ^ "Shanda to sell 4 mln Sina Corp shares for 129.6 mln". Reuters. February 9, 2007. Retrieved December 5, 2018.
- ^ "Shanda Interactive licenses Woool, Magical Land and Crazy Kart to Overseas Markets". Reuters. June 8, 2007. Retrieved December 5, 2018.
- ^ a b Cifaldi, Frank (April 22, 2009). "Shanda reports 1 million paying Aion users in China". Games Industry. Retrieved December 6, 2018.
- ^ a b c d Takahashi, Dean (July 3, 2008). "Shanda Interactive moves into reader-generated books". VentureBeat. Retrieved December 5, 2018.
- ^ a b c d Xiang, Tracey (January 27, 2015). "Tencent-Cloudary Merger Reshapes Chinese Online Publishing". Technode. Retrieved December 5, 2018.
- ^ a b c Farrar, Lara (February 15, 2009). "For many Chinese, literary dreams go online". CNN. Retrieved December 6, 2018.
- ^ "(Simplified Chinese)Shanda Literature Heavily Promotes Jingming Guo's New Novel". Beijing Qianlong News Media Limited. 2009-12-31. Archived from the original on 2011-07-20. Retrieved 2010-01-03.
- ^ Zhang, Leijie (2009-12-28). "(Simplified Chinese)Vivibear Publishes New Novel After Plagiarism Scandal". press.idoican.com.cn. Archived from the original on 2011-07-07. Retrieved 2010-01-03.
- ^ "(Simplified Chinese) Letters to Shanda Protesting Its Support of Vivibear". 2009-11-21. Retrieved 2010-01-03.
- ^ "Shanda Literature Will Sue Baidu.com In January 2010". China Tech News.com. 2009-12-23. Retrieved 2010-01-03.
- ^ a b "Baidu beaten in landmark copyright case". China.org. May 12, 2011. Retrieved December 5, 2018.
- ^ a b c d e f Barboza, David (February 15, 2012). "Shanda Interactive's Shareholders Back Buyout Plan". The New York Times. Retrieved December 5, 2018.
- ^ Boog, Jason (February 23, 2010). "Shanda Literature Acquires Controlling Stake in Rival Company". AdWeek. Retrieved December 6, 2018.
- ^ "Shanda Interactive Net Fell 58% in Last Q4". tmcnet.com. Retrieved 2 March 2011.
- ^ Yang, Joyce (October 17, 2011). "Shanda CEO Proposes to Acquire all Public Shares". TechCrunch. Retrieved December 6, 2018.
- ^ "Shanda Interactive Entertainment Announces Completion of Merger". 2012.
- ^ "Shanda Group". Retrieved November 20, 2018.
- ^ "Entertainment Titan's New Career -- Beijing Review".
- ^ "China's five richest investors".
- ^ McLannahan, Ben (June 20, 2016). "China's Shanda ups stake in Lending Club to 15%". Financial Times. Retrieved December 5, 2018.
- ^ Jamerson, Joshua (December 19, 2016). "Legg Mason Deepens Ties With Largest Shareholder Shanda Group". The Wall Street Journal. Retrieved December 6, 2018.
- ^ Shanda (June 22, 2022). "Shanda Fund Portfolio". Shanda.
- ^ "CHVC".
- ^ "The Mysterious Case of the Missing Internet Billionaire". Bloomberg.com. 15 August 2017.
External links
- Shanda.com
- Felda Hardymon, Ann Lemon, Harvard Business School case no. 9-805-091 (May 2004)