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Perfect World (company)

Perfect World Co., Ltd. (Chinese: 完美世界股份有限公司) is a Chinese mass media company based in Beijing. It was founded in 2004 by Chi Yufeng. The company consists of two business segments: Perfect World Games, a video game publisher, and Perfect World Pictures, a film production company.

Perfect World Co., Ltd.
Native name
完美世界股份有限公司
Wánměi shìjiè gǔfèn yǒuxiàn gōngsī
Company typePublic
SZSE: 002624
ISINCNE1000018W6 Edit this on Wikidata
IndustryVideo games
Founded2004; 20 years ago (2004)
FounderChi Yufeng
Headquarters
Beijing
,
China
Key people
OwnerPerfect World Investment & Holding Group (controlling interest)
Number of employees
4,500[2] (2013)
Websitepwrd.com

Perfect World is the exclusive distributor of Valve's games Dota 2 and Counter-Strike 2 in China.[3]

History

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Perfect World was founded in 2004 by Chi Yufeng.[1][4] A 1994 graduate of Tsinghua University, Chi had founded Beijing Hongen Education and Technology in 1996, which sold educational software to teach Chinese consumers how to use personal computers and learn English. He established Perfect World, then also known as Perfect World Games, as a developer and publisher of online multiplayer video games. The company became listed on the Nasdaq stock exchange in 2007. In 2008, Chi founded the film production company Perfect World Pictures. After Perfect World Games was delisted from Nasdaq in 2015, it was merged with Perfect World Pictures, which was traded on the Shenzhen Stock Exchange, in 2016. The combined company was renamed Perfect World.[4] Perfect World Investment & Holding Group (Chinese: 完美世界控股集团有限公司), a holding company founded by Chi on 14 August 2013, owns a controlling interest in Perfect World.[5]

Perfect World bought the developer Cryptic Studios from Atari, SA in May 2011 for €35 million.[6] The transaction was completed by August that year.[7]

Perfect World Entertainment was Perfect World's North American video game subsidiary. It was established in June 2008.[8]

In December 2021, Perfect World sold Perfect World Entertainment and Cryptic Studios to Embracer Group.[9] In June 2024, Perfect World reportedly laid off over 1,000 employees.[10]

Subsidiaries

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Perfect World Europe

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Perfect World Europe B.V. is Perfect World's European video game subsidiary. It was established in early 2010 in Amsterdam.[11] Gabriel Hacker was appointed as Perfect World Europe's general manager in May 2012.[12] In early 2020, a large portion of the company's staff was laid off, leaving only the finance, customer support, and localisation departments.[13] The subsidiary formerly owned Perfect World Entertainment, the publishing arm of the company which was sold to Embracer Group in 2021.[14]

Runic Games

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Main article: Runic Games

Runic Games was a developer founded in 2008 and based in Seattle.[15] Perfect World acquired a controlling interest in the studio in May 2010 for US$8.4 million.[16] On 3 November 2017, Perfect World shut down Runic Games, citing the publisher's focus on games as a service.[17]

Collaborations with Valve

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On 25 February 2016, Perfect World hosted Dota 2's Shanghai Major. While the tournament itself was well received in regards to the player performances, the event garnered criticism due to delays on stream, spotty broadcasts, and various other problems within the tournament, including the theft and deterioration of the competing teams' equipment.[18] In the month that followed the event, the president of Perfect World, Yunfan Zhang, apologised for the issues with the event.[19]

In June 2018, Perfect World and Valve announced that they were developing a version of Valve's Steam service for the Chinese market.[3]

On 13 November 2023, it was announced that Perfect World would be hosting the second Valve-sponsored Counter-Strike 2 Major Championship in Shanghai, China,[20] with the event scheduled for 30 November 2024.[21]

Games developed

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References

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  1. ^ a b Ho, Phyllis (22 June 2015). "Tech entrepreneur Chi Yufeng sees opportunity in every situation". The Straits Times. Archived from the original on 30 April 2017. Retrieved 6 May 2021.
  2. ^ a b Takahashi, Dean (26 October 2013). "How China's Perfect World plans to be a player in mobile games — and the West". VentureBeat. Archived from the original on 27 October 2020. Retrieved 6 May 2021.
  3. ^ a b Lumb, David (11 June 2018). "Perfect World and Valve partner to launch Steam in China". Engadget. Archived from the original on 13 February 2021. Retrieved 6 May 2021.
  4. ^ a b Yang, Yingzhi; Li, Jane (5 March 2018). "Chinese gaming company Perfect World just picked up a few Oscars". South China Morning Post. Archived from the original on 9 November 2020. Retrieved 6 May 2021.
  5. ^ "完美世界股份有限公司 – 2019 年年度报告" [Perfect World Co., Ltd. – Annual Report 2019] (PDF) (Press release) (in Chinese). Perfect World. 23 April 2020. p. 57. Archived (PDF) from the original on 6 May 2021. Retrieved 6 May 2021.
  6. ^ Martin, Matt (31 May 2011). "Perfect World acquires Cryptic Studios for $50 million". GamesIndustry.biz. Archived from the original on 16 March 2021. Retrieved 6 May 2021.
  7. ^ Daniel, Matt (10 August 2011). "Perfect World Entertainment completes acquisition of Cryptic Studios". Engadget. Archived from the original on 6 May 2021. Retrieved 6 May 2021.
  8. ^ Alexander, Leigh (17 May 2010). "Perfect World Acquires Majority Stake In Torchlight's Runic". Gamasutra. Archived from the original on 24 September 2015. Retrieved 6 May 2021.
  9. ^ Takahashi, Dean (21 December 2021). "Embracer Group buys Perfect World Entertainment for $125M". VentureBeat. Retrieved 27 June 2024.
  10. ^ Carter, Justin (26 June 2024). "Perfect World cuts staff in multi-unit layoffs, reportedly suspends game projects". www.gamedeveloper.com. Retrieved 27 June 2024.
  11. ^ "Forsaken World Launches Early on March 9th". IGN. 2 March 2011. Archived from the original on 25 November 2018. Retrieved 6 May 2021.
  12. ^ Weber, Rachel (2 May 2012). "New GM for Perfect World Europe". GamesIndustry.biz. Archived from the original on 6 December 2017. Retrieved 6 May 2021.
  13. ^ Taylor, Haydn (15 January 2020). "Layoffs reported at Perfect World Europe". GamesIndustry.biz. Archived from the original on 28 April 2021. Retrieved 6 May 2021.
  14. ^ "Embracer Group enters into agreement to acquire Perfect World Entertainment". Embracer Group. Retrieved 30 December 2023.
  15. ^ Alexander, Julia (3 November 2017). "Torchlight developer Runic Games shuts down". Polygon. Archived from the original on 9 November 2020. Retrieved 6 May 2021.
  16. ^ Brice, Kath (18 May 2010). "Perfect World acquires majority stake in Runic Games". GamesIndustry.biz. Archived from the original on 25 April 2021. Retrieved 25 April 2021.
  17. ^ McAloon, Alissa (3 November 2017). "Perfect World shuts down Runic Games studio". Gamasutra. Archived from the original on 25 April 2021. Retrieved 25 April 2021.
  18. ^ Grayson, Nathan (7 March 2016). "Disastrous DOTA 2 Tournament Ends With Missing Gear, Pissed Off Players". Kotaku. Archived from the original on 7 November 2020. Retrieved 6 May 2021.
  19. ^ Morrison, Angus (12 April 2016). "Perfect World apologises for Shanghai Major mess". PC Gamer. Archived from the original on 27 November 2020. Retrieved 6 May 2021.
  20. ^ Gwynn, Dafydd (13 November 2023). "Perfect World to host CS2 Major in Shanghai". Esports Insider. Retrieved 27 August 2024.
  21. ^ "PGL secures English broadcast rights to the Shanghai Major". esports.gg. 1 August 2024. Retrieved 27 August 2024.
  22. ^ Romano, Sal (19 September 2015). "Final Fantasy Type-0 Online announced for PC and smartphones". Gamasutra. Archived from the original on 16 February 2021. Retrieved 6 May 2021.
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