How one game brought ‘Japan’s Facebook’ back from the brink of disaster

In September 2006, Mixi was the first so-called web 2.0 startup ever to go IPO, and for many years it was referred to in international media as “Japan’s Facebook.” It managed to grow slowly and maintain its status as a large-cap company for years until it stopped innovating and was hit by a flood of competitors across both social and gaming, such as DeNA, GREE, Twitter, Facebook, and Line.