Krafton Preparing To Go Public, Could Be Worth About $18 Billion
Krafton is just about ready to go public, in what would be the biggest initial public offering (IPO) ever for a Korean company. The maker of TERA and PlayerUnknown's Battlegrounds has applied for preliminary approval of its IPO, Reuters is reporting out of Seoul.
Analysts peg the firm's valuation at about 20 trillion South Korean won, or nearly $18 billion USD. That's certainly a lot, but it's down one third from the $27.2 billion estimate that was given in January, when news of Krafton's going public was first circulating.
The founder of Krafton, Chang Byung-gyu, is the majority shareholder in the company, just edging out Tencent, 16.4% to 15.5%.
Krafton said that PUBG has "up to 55 million daily users excluding China on weekends and 70 million copies of the game sold for PC and game consoles" -- a pair of claims that seem difficult to reconcile with each other. (By comparison, Blizzard reported that World of Warcraft had sold 100 million copies at around the time that its active player count was in the 10-million range.) Krafton's revenue in 2020 was reported at 1.67 trillion KRW (about $1.5 billion), with an operating profit of 774 billion KRW.
About the Author
Jason Winter is a veteran gaming journalist, he brings a wide range of experience to MMOBomb, including two years with Beckett Media where he served as the editor of the leading gaming magazine Massive Online Gamer. He has also written professionally for several gaming websites.
You May Enjoy
24 Entertainment Explains The Origins Of Naraka: Bladepoint In New Documentary
The action-adventure battle royale game has always stayed true to its original vision.By Aspen Pash - 6 days ago
FTC Likely To File Lawsuit Challenging Microsoft's Acti-Blizz Deal "As Soon As Next Month"
The FTC is concerned about the future leverage Microsoft could have with unannounced titles to "boost its gaming business."By Anthony Jones - 4 days ago
Red Beard Games Drops Launch Trailer For Smite-Themed Platform Fighter Divine Knockout
Like Smite, DKO gives a third-person spin to its genre.By QuintLyn Bowers - 6 days ago
Lost Ark's "Speculative Fix" Update Did More Harm Than Solve Players Getting Kicked From Servers
Since their announcement over the blunder, they've lessened the issue but it's still happening for many players.By Anthony Jones - 4 days ago
Spongebob, "Time Attack Show", And A Kraken: Fall Guys Reveals Underwater Season 3
Explore the secrets of an ancient city beneath the waves.By QuintLyn Bowers - 1 week ago
Genshin Impact Version 3.3 Introduces A Spooky New Festival In Inazuma, And We Get To Find Out More About The Wanderer
Travel to Irminsul with The Wanderer.By QuintLyn Bowers - 3 days ago