By Cecilia D’Anastasio | Bloomberg

Mike Morhaime, a co-founder of video-game giant Blizzard Entertainment, sent a letter to staff at his new company Dreamhaven last week that he wished he didn’t have to write.

One month after Dreamhaven launched Wildgate , a multiplayer shooter game, the company had sold just 130,000 units, according to the letter, which was seen by Bloomberg. The company’s other game, Sunderfolk , sold just 62,000 copies since its April debut, Morhaime wrote.

Despite receiving positive reviews, both titles performed below expectations, Morhaime said. He’s looking for new financing for Dreamhaven, but in the meantime the company would need to retrench.

“Our monthly expenses are outpacing revenue,” Morhaime wrote. The focus now is “urgently reducing costs,” he sai

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