Early Life
Yao Runhao's story begins with a passion for video games. While studying economics at Waseda University in Japan, he cultivated a deep interest in gaming that would later shape his career. His background in finance provided a foundation for understanding market dynamics and identifying opportunities within the entertainment sector.
Rise to Success
In 2013, Yao founded Paper Games. The company initially focused on creating mobile games for female audiences, a segment often overlooked in the Chinese gaming market. The company's first dating simulation game was released in 2017, 'Love and Producer' (known as Mr. Love: Queen's Choice in overseas markets). In January 2024, Paper Games launched 'Love and Deepspace,' an AI-powered dating simulation game. The game allows users to engage with AI companions through interactive features. The game gained massive popularity, with approximately six million monthly active users. According to Forbes, Yao's net worth is now $1.3 billion, based on his majority stake in Paper Games.
Key Business Strategies
Yao's success stems from several key business strategies. First, he identified and catered to a specific market segment: female gamers. Second, he embraced technological innovation by incorporating AI and voice recognition into his games. Third, by understanding and meeting the emotional needs of players, particularly the need for connection and companionship, Yao created immersive gaming experiences that resonated with a large audience.
Philanthropy
While specific amounts are unavailable, there is no data on Yao Runhao's specific philanthropic initiatives.