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K2 Network Secures 16M Funding From Intel Capital

Leader In The Publishing And Servicing Of PC-based Online Games, K2 Network
> Looks To Expand its Portfolio Internationally
> Irvine, Calif. – June 18, 2007 – K2 Network, Inc. (
> www.k2network.net), an online game publisher,
> today announced that the company has closed a $16 million Series B round of
> venture capital led by Intel Capital, the investment arm of Intel
> Corporation. The funds will be used to further develop and internationally
> market and grow its portfolio of personal computer, Free2Play™ multi-player
> online games.
> Intel Capital was joined in this funding by new investors Greycroft
> Partners, Khosla Ventures and Novel TMT Ventures as well as returning
> investors BV Capital and mvp Capital. The online gaming industry has grown
> rapidly in recent years and is forecasted to hit $13 billion by 2011
> according to DFC Intelligence. With its plans for international expansion,
> key portfolio acquisitions and more, K2 Network is poised to be a
> significant player in that growth
> “K2 Network has demonstrated leadership in this market with its innovative
> business acumen to build a gaming company that is focused on
> service-oriented architecture,” said Joshua Hong, CEO and Co-founder of K2
> Network. “K2 Network is in a position to take some major steps in growth and
> market share and we are glad Intel Capital, as a strategic investor, is
> supporting us as we write the next exciting chapter in our company’s
> history.”
> “The online gaming market segment is experiencing tremendous growth
> supported by multiple revenue models from subscription, free to play,
> advertising supported to micro-transaction and virtual currency,” said
> Alexander Marquez, director of strategic investments for Intel Capital. “K2
> Network’s extensive gaming knowledge along with its unique Free2Play model
> is well positioned to capitalize on this exciting opportunity in interactive
> entertainment.”
> Serving over 10 million gamers in over 100 countries, K2 Network is a
> leading Western Hemisphere MMO service company with successful online game
> titles from Asia. Climbing rapidly, K2 Network is one of the fastest growing
> companies in the fastest growing segment of the video game industry. K2
> Network has an operational presence in the United States, Korea and India.
> In 2001, K2 Network was founded on the belief that the community experience
> of Massively Multiplayer Online Games (MMO’s) will become one of the most
> significant forms of entertainment in the 21st Century. K2 Network is
> devoted to removing barriers between players and games, believing players
> should experience a game before they invest any money in it. K2 Network
> digitally distributes games for free through its Free2Play™ model where
> players can choose between completely free, discreet item/service purchases,
> or paid monthly Premium services.
> About Intel Capital
> Intel Capital, Intel's venture capital organization, makes equity
> investments in innovative technology start-ups and companies worldwide.
> Intel Capital invests in a broad range of companies offering hardware,
> software, and services targeting enterprise, home, mobility, health,
> consumer Internet, semiconductor manufacturing, and cleantech. Since 1991,
> Intel Capital has invested more than U.S. $6 billion in approximately 1,000
> companies in over 40 countries. In that timeframe, about 157 portfolio
> companies have gone public on various exchanges around the world and another
> 187 have been acquired by other companies. In 2006, Intel Capital invested
> about US$1.07 billion in 163 deals with approximately 60 percent of funds
> (excluding Clearwire) invested outside the United States. For more
> information on Intel Capital and its differentiated advantages, visit
> www.intelcapital.com.
> About K2 Network
> K2 Network publishes and services highly engaging online games and
> cultivates dynamic player environments. The company puts Gamers First™ by
> giving them free access to its compelling titles, supporting its amazing
> communities, offering creative pricing models and updating its games based
> on community feedback. K2 Network currently has 10 million registered users
> and offers War Rock, Knight Online, Global MU Online, Red Stone and Sword of
> the New World: Granado Espada. K2 Network has an operational presence in the
> United States, Korea, and India. More information can be found at
> www.k2network.net.

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