Our online games business began operations as a business unit within the Sohu Group in 2003. In June 2003, the Sohu Group launched its first PC game, KO, which was licensed from a Korean developer. KO had limited acceptance in the Chinese market, and its operation was discontinued in November 2006 when the license expired. In October 2004, the Sohu Group launched BO, its second PC game, which was licensed from a local independent game studio. In May 2007, the Sohu Group launched TLBB, its first in-house developed PC game.
In December 2007, ChangYou was carved out as stand-alone company and completed its initial public offering on the NASDAQ Global Select Market on April 2, 2009.
On December 15, 2011, ChangYou completed the acquisition from Sohu of the 17173 Business, which operates a leading game information portal in China.