"Historically, the winners in the gaming space have been publishers rather than independent studios. However, World of Warcraft is no ordinary game title and Red 5 is no ordinary team," said Benchmark Capital's Bill Gurley. "With the track record, talent and vision behind Red 5, it is positioned to become a unique creative powerhouse in the online games space." In addition to its founders, Red 5 employs numerous other former Blizzard developers, as well as former staffers from Myst developer Cyan, Ultima developer Origin, Oddworld series developer Oddworld Inhabitants, and elsewhere.

Red 5 has announced that it is developing a new massively multiplayer game for Webzen, which is currently also working on the upcoming MMOFPS Huxley as well as Real Time Worlds' GTA-esque MMO All Points Bulletin.