According to multiple sources, Mu77 Game Studio’s management team has sent an internal letter to its employees stating its decision to lay off all staff members.
“We are sorry to announce that due to the limit of my personal ability and the internal and external factors, the company's income had long been unable to cover the expenses.” the statement by the management team said.
“We’ve made efforts but failed to improve the situation. So, today we have to make this decision.”
Founded in January 2015, the Shanghai-based studio was renowned for the idle game Brave Diggers. It received an investment of 5 million CNY from X.D. Network in Series A round. The studio's second game, Card Monsters, also received much attention and was published by Tencent’s A.C.E Program.
Source: Weibo