Giant invests nearly US$10m in online rental platform for diversification

Giant Interactive has invested nearly US$10 million in online house rental platform Mogoroom as part of the Shanghai-based game firm's latest move to expand its business portfolio, Shanghai Daily learned today.

Founded in 2014, Mogoroom has raised a total of US$30 million in the latest round of financing including Giant’s investment of US$9.5 million. The platform offers 2 million rooms for rent in 16 cities including Shanghai, Beijing and Guangzhou.

Shenzhen-listed Giant, with its main business being online and mobile games, said it aims to expand business presence to various online services.

In November, Giant invested 520 million yuan (US$79 million) to become a major shareholder of a Shenzhen-based online finance firm. In July, it invested 300 million yuan for a minority stake in a fund that invests in companies covering Internet services.