Firefall set to launch this year thanks to $23 million in funding

By Stephany Nunneley

Firefall developer Red 5 Studios’ parent company, The9 and two shareholders have entered into share purchase agreement to Shanghai Oriental Pearl Culture Development Co., Ltd. of approximately $23 million. This means more funding for the MMO which was originally planned for a 2011 release. “This additional round of funding will offer us the means to execute on our plan for successfully launching Firefall in 2014.” said James Macauley, acting CEO. “This is the year Firefall takes flight. The entire Red 5 tribe is focused on creating top quality content that will take Firefall to the next level and we are excited for this next stage of development.” Former CEO Mark Kern stepped down as CEO back in December. Thanks, BWW.