Red 5 Studios Secures $18.5 Million

Reuters is reporting that Red 5 Studios has secured $18.5 million in venture capital for an upcoming MMORPG, though it isn’t clear if this money will be used for the game they’re working on for Webzen or something new altogether.

Mark Kern, Red 5’s chief executive and former team leader on “World of Warcraft,” said his California-based game studio will create original games for online game operators and distributors — much as Pixar Animation Studios did in the movie world with its animated films such as “Toy Story” and “Finding Nemo”.

“Pixar really showed that you can have a content-focused strategy,” Kern said of the animated film maker that is now owned by the Walt Disney Co.