News Summary:
Garena led a USD50m investment in Shanghai Yongyue Intelligent Technology, the parent company of AI applications developer Loopit, on April 29, 2026, with participation from Matrix Partners China, Lanchi Ventures, INCE Capital, and Bairui Capital. Previously, Garena's Free Fire MAX offered redeem codes for in-game currencies and cosmetic items on April 15, 2026, following a similar release on April 14, 2026. Earlier, on April 8, 2026, Free Fire launched "Undersea Mystery," its first ocean-themed campaign, transforming gameplay with refreshed mechanics and new environments. This follows Garena's deployment of user-retention tactics in Egypt on April 7, 2026, releasing limited-time redeem codes for Free Fire to stabilize Daily Active Users amidst regional economic volatility and intensifying competition from Tencent.
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