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Downjoy.com Wins at the 2007 'Red Herring 100 Asia' Awards

Downjoy.com
2007-08-27 16:31 1035


BEIJING, Aug. 27 /Xinhua-PRNewswire/ -- Downjoy.com, China's leading mobile game interactive platform, announced today that it has been awarded the 2007 "Red Herring 100 Asia" award. It is the only China-based mobile game website to have won the honor.

Red Herring, also known as the "Bible of Silicon Valley" and the "investment vein," is a global economic media company that expands across the fields of innovation, technology, financing, and entrepreneurial activity. Red Herring investigates on a global scale and reports on how the world of innovation and entrepreneurship are transforming businesses and how the business of technology is transforming the world. From 2005, Red Herring started investigating the 100 most cutting-edge private technology companies from Asia, which are known as "Red Herring 100 Asia." The objective of this selection is to discover the most innovative 100 unlisted companies in the high-tech industry in Asia and to bring them onto the global stage. Previously, companies such as Suntech Power and Vimicro were both awarded the honor of "Red Herring 100 Asia." Both companies are now listed in the U.S.

The secret to Downjoy winning the award -- seizing the opportunity

In order to better understand the evolution of Downjoy, you need to discuss the development of China's mobile game market. Looking back to 2002, the mobile game industry was just in its infancy and people played simple, boring built-in mobile phone games to kill time. In 2004, driven by the rapidly developing mobile terminal technology, mobile phone users increased dramatically as a result of the diversification trends of handset types and prices. Meanwhile, the demand for entertainment from handsets started to emerge. Some forward-looking companies managed to take advantage of the emerging demands, and discovered the true potentials of the market before they became a norm. However, competition soon grew and some failed to make full use of the possibilities within the market. Downloading games has become one of the most widely accepted methods to reach and satisfy consumer demands in this area, with a strong developing momentum.

Opportunities always come with challenges. Just when Downjoy had under gone a difficult start-up period from 2004 to 2006, and when its business was booming, it confronted problems like other independent WAP businesses in China. When the Chinese government started a large cleanup campaign in the WAP industry, many commercial WAP portals laid-off employees, diverted business to other courses, and took other actions to get them through these harsh times. Venture Capitalists were the main supporters of the WAP industry, however, government policy was the prime factor that influenced the industry situation. As profit hunters, venture capitalists usually do not invest until the government policies are clear. Therefore, hesitation by venture capitalists' to invest, led the China WAP industry to a life-and-death moment. While other WAP companies were experiencing difficult times, Downjoy showed incredible calm, which reflects on its original market positioning and clear profit objectives.

When Mr. Xiao started Downjoy.com, he established the Company's objective as giving users the best experiences; the Company's business model was also set based on user experience. When user base reached considerably stable numbers, the Downjoy.com business model became well known.

Downjoy's profitability will come firstly, from Downjoy becoming the first choice when users download mobile games. Secondly, Downjoy will be the product promotion platform for many games and software vendors who use the handset as a platform. Thirdly, the game trade and built-in game advertisement are also Downjoy's important profit points. When the whole wireless industry faces key problems of an unclear profit model, Downjoy will have already explored and successfully established the three most direct and effective profit manners, which will have already contributed to its success.

According to industry experts' forecasts: as 3G is approaching, the percentage of revenue in China's mobile phone game industry, will increase rapidly and will therefore have a fast, growing momentum; the development of the mobile game market will span over 2 years. The award of the "Red Herring Asia 100" not only recognizes the outstanding contribution and performance of Downjoy, but also proves that China has a mobile game market with huge potential, and it looks set to become a global hotspot.

About Downjoy

Downjoy.com was founded in February 2004 in Beijing by senior staffs from globally-leading companies such as Microsoft, Samsung, Baidu and the Wall Street investment bankers, and is financially supported by a renowned American investment fund. Downjoy.com is committed to making the largest mobile game interactive platform in China, providing comprehensive game services for 470 million mobile phone users in China.

Currently, Downjoy.com has more than 18 million mobile game users, with over 500,000 individual users daily. Downjoy.com has the most authoritative mobile game portal, the most advanced mobile game search engine, and the most popular interactive community for mobile game players, and the largest mobile game WAP sites union group in the country. With continuous efforts by the professional operation team during the past three years and the player-centered service discipline, Downjoy.com has become the first choice for domestic mobile game players.

Source: Downjoy.com
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