KUALA LUMPUR, Malaysia, May 7, 2015 (GLOBE NEWSWIRE) -- MOL Global, Inc. (Nasdaq:MOLG) ("MOL" or the "Company"), a leading e-payment enabler for online goods and services in emerging and developed markets, today announced a strategic partnership with Beijing-based, Changyou.com Limited (Nasdaq:CYOU) ("Changyou"), owner and operator of the mobile application store Mobogenie.
Changyou's Mobogenie Android Store hosts over 12 million entertainment resources including apps, games, music and e-books, among others, catering to both mainstream and niche user preferences in a variety of local markets. The application has been installed over 500 million times globally, and has over 40 million downloads in Southeast Asia alone.
Pursuant to the agreement, Mobogenie will leverage MOL's payments platform, including its vast distribution network which includes more than 970,000 physical locations in 11 countries across 4 continents. MOL will gain access to Mobogenie's mobile user base, which includes a daily distribution figure of 59 million. Both parties will share net revenues associated with all content purchases.
Mr. Preecha Praipattarakul, co-CEO of MOL, commented, "We are extremely excited to cooperate with Changyou's all-in-one Android Store, Mobogenie, and offer our payment solutions on their market leading platform and servicing its massive user base throughout Southeast Asia. Through this partnership, Mobogenie will significantly improve its mobile entertainment experience for users by offering premium content from MOL, as well as the convenience of our payment solutions. This collaboration is a win-win for both users and developers, especially those in Southeast Asia. Mobogenie will be able to deepen its localized content and gain access to MOL's tremendous gaming and streaming resources, while MOL will be able to expand its product offerings and gain access to Mobogenie's user base. This is just the beginning of our strategic cooperation with Changyou and we aim to further deepen our relationship going forward."
About MOL Global, Inc.
MOL Global, Inc. (Nasdaq:MOLG) is a leading e-payment enabler for online goods and services in emerging and developed markets. MOL operates a payments platform that connects consumers with digital content providers, telecommunications service providers and online merchants by providing a vast network of distribution channels that accepts cash and online payment methods. Its physical distribution network comprises more than 970,000 locations in 11 countries across 4 continents. The Company also has mobile payment channels, electronic distribution channels that accept major credit cards and online banking from more than 100 banks.
Founded in 2013, Mobogenie develops applications for the Android platform and mobile device management applications for PC. Mobogenie puts its 'users first' by ensuring the highest level of protection on its product offerings.
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