Perfect World was founded in 2004 byChi Yufeng.[1][4] A 1994 graduate ofTsinghua University, Chi had founded Beijing Hongen Education and Technology in 1996, which sold educational software to teach Chinese consumers how to use personal computers and learn English. He established Perfect World, then also known as Perfect World Games, as adeveloper andpublisher ofonline multiplayer video games. The company became listed on theNasdaq stock exchange in 2007. In 2008, Chi founded the filmproduction company Perfect World Pictures. After Perfect World Games was delisted from Nasdaq in 2015, it was merged with Perfect World Pictures, which was traded on theShenzhen Stock Exchange, in 2016. The combined company was renamed Perfect World.[4] Perfect World Investment & Holding Group (Chinese:完美世界控股集团有限公司), aholding company founded by Chi on 14 August 2013, owns acontrolling interest in Perfect World.[5]
Perfect World bought the developerCryptic Studios fromAtari, SA in May 2011 for€35 million.[6] The transaction was completed by August that year.[7]
Perfect World Entertainment was Perfect World's North American video game subsidiary. It was established in June 2008.[8]
In December 2021, Perfect World sold Perfect World Entertainment andCryptic Studios toEmbracer Group.[9] In June 2024, Perfect World reportedly laid off over 1,000 employees.[10]
Perfect World Europe B.V. is Perfect World's European video game subsidiary. It was established in early 2010 inAmsterdam.[11] Gabriel Hacker was appointed as Perfect World Europe'sgeneral manager in May 2012.[12] In early 2020, a large portion of the company's staff was laid off, leaving only the finance, customer support, and localisation departments.[13] The subsidiary formerly owned Perfect World Entertainment, the publishing arm of the company which was sold toEmbracer Group in 2021.[14]
Runic Games was a developer founded in 2008 and based inSeattle.[15] Perfect World acquired a controlling interest in the studio in May 2010 forUS$8.4 million.[16] On 3 November 2017, Perfect World shut down Runic Games, citing the publisher's focus ongames as a service.[17]
On 25 February 2016, Perfect World hostedDota 2'sShanghai Major. While the tournament itself was well received in regards to the player performances, the event garnered criticism due to delays on stream, spotty broadcasts, and various other problems within the tournament, including the theft and deterioration of the competing teams' equipment.[18] In the month that followed the event, the president of Perfect World, Yunfan Zhang, apologised for the issues with the event.[19]
In June 2018, Perfect World and Valve announced that they were developing a version of Valve'sSteam service for the Chinese market.[3]
On 13 November 2023, it was announced that Perfect World would be hosting the second Valve-sponsoredCounter-Strike 2 Major Championship inShanghai, China,[20] with the event scheduled for 30 November 2024.[21]
^"完美世界股份有限公司 – 2019 年年度报告" [Perfect World Co., Ltd. – Annual Report 2019](PDF) (Press release) (in Chinese). Perfect World. 23 April 2020. p. 57.Archived(PDF) from the original on 6 May 2021. Retrieved6 May 2021.
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