The little-known video game studio that created the smash hit 'PUBG' is planning an IPO that could take its value to a whopping $27 billion, report says
- The video game studio behind "
PUBG" is planning an initial public offering in 2021, Bloomberg reported.
- Bloomberg noted a recent estimate that an
IPOcould value the South Korean company KraftonInc. as high as $27 billion.
- The company's CEO plans to release three more games based on or related to "PUBG" by 2022.
The South Korean video game studio that created the smash hit "PlayerUnknown's Battlegrounds," or "PUBG," is planning an initial public offering in the second half of 2021, according to a Bloomberg report.
Kim Chang-han, who started out young in the gaming industry as a coding whizz, was one of 30 people who worked on creating the multiplayer battle-royale game.Kim is now the chief executive of Krafton Inc., the company that launched "PUBG" in December 2017. The game attracted players around the world, raking in revenue of $100 million within 13 weeks of its global release.
Before Krafton, Kim had his own gaming studio. But he laid off a third of his employees in 2014, Bloomberg said. By then, he had created three multiplayer video games that failed to take off.Read more: Billionaire investor Ray Dalio warned the US could be on the verge of civil war - Now a prominent market bear is saying investors should monitor this under-the-radar bubble, which could trigger unrest
"That was the darkest time in my life," the now-46-year-old told Bloomberg. He sold his startup to Krafton in 2015, leading to a series of events that changed his prospects in the world of gaming.He joined the company as an executive producer, only to nab the post of CEO last year. Krafton now plans to list a public offering that could be one of
Krafton plans to release three more games by 2022, all of which will be based on or related to "PUBG." One of them is expected to be a survival-horror game that portrays the "PUBG" universe in the distant future.
"We will not stay as a one-hit wonder," Kim said in the Bloomberg interview.Read more: GOLDMAN SACHS: Buy these 25 stocks best-positioned to juice profits in 2021 as stimulus and vaccine progress spur economic growth
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