4399logoThe small game platform 4399 Network Co., Ltd, co-founded by legendary Chinese angel investor Cai Wensheng and tech entrepreneur Li Xingping, has filed for IPO on the Enterprise Growth Market of the Shenzhen Stock Exchange.

Since setting up in 2004, 4399 has accumulated over 400 million registered users, according to the filing.

The site operates self-developed and licensed small casual games (via web and mobile), a game publishing business, and a game news service, amongst other operations.

Out of the 20,000 games on 4399, just over 30 are self-developed. Apart from those developed in-house, the company also helps publish third-party games on its own platform or through of its 300 partner distribution platforms.

Revenue sources are in-game item sales from premium games on its own platform, revenue shares from third-party distribution platforms, and advertising, amongst others.

 

Source: 4399

Source: 4399

The company generated RMB786 million (around US$127m) in turnover in the first half of this year, with RMB158 million (roughly US$26m) in net profit.

As of June 2014, the company had had more than 2500 employees. Overseas branches have been set up in South Korea, Japan and Hong Kong.

Before founding 4399, Li Xingping sold Hao123.com, one of the most popular web directories in China he had started in 1999, to Baidu in 2004.

 

Editing by Mike Cormack (@bucketoftongues)