Goddess of Victory: NIKKE developer Shift Up has increased its market value over 700% in the past 5 years, perhaps proving the worth of attractive female characters.
South Korean company WeMade Entertainment purchased 4.2% of Shift Up’s shares for $7.4 million in 2018, and sold them for $53.9 million in 2023, indicating the studio grew by over 700%.
Shift Up is responsible and primarily known for developing Goddess of Victory: NIKKE, a mobile game popularized by having attractive anime girls as a primary element.
According to a Chinese media outlet, Singaporean holding company Aceville (a subsidiary of Tencent) was the one that purchased 2 million shares previously held by WeMade Entertainment.
The aforementioned outlet believed selling the shares was vital for WeMade Entertainment as they were struck with a loss of $64.5 million in the first half of 2023.
Goddess of Victory: NIKKE is currently one of the top three highest-grossing mobile games for Tencent, and the game’s monthly revenue is said to be $32 million (excluding China).
The title has amassed over $400 million in revenue since its November 2022 launch.