PUBG franchise, raised $3.75B through IPO at $19.32B valuation

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PUBG Mobile Highest Grossing Mobile Game Of H1 2021 – $832M-Brand Spur Nigeria
PUBG Mobile Highest Grossing Mobile Game Of H1 2021 – $832M-Brand Spur Nigeria

The creator of the PUBG franchise, South Korean gaming holding Krafton, has raised $3.75B through IPO at a valuation of $19.32B.

The IPO had been originally planned for Jul’21 but was then pushed to Aug’21. Initially, Krafton was aiming for $5B proceeds. However, after regulators questioned its valuation, the company had to re-evaluate the indicative price range and lowered the expected proceeds amount by 25%.

The debut was the South Korean second-largest after Samsung Life Insurance $4.3B listings in 2010. Following the debut, Krafton joins the ranks of South Korea’s biggest game developers such as Nexon ($17B valuations) and NCSoft Corp. ($15.5B valuation).

PUBG Mobile Highest Grossing Mobile Game Of H1 2021 – $832M-Brand Spur Nigeria
PUBG Mobile Highest Grossing Mobile Game Of H1 2021 – $832M-Brand Spur Nigeria

For 2020, Krafton reported Revenue of $1.47B (+53.6% YoY) and operating profit of $682m (+115.4% YoY). In Q1’21 PUBG generates almost 96.7% of the company’s Sales from all platforms.

Products Overview

Krafton is best known for its multiplatform battle royale franchise PUBG — the mobile version of the game has over 1 billion lifetime downloads, while the PC&console versions have over 75 million copies sold.

Currently, the company works on Playerunknown’s Battlegrounds: NEW STATE — a new mobile game of the franchise, which has already completed its alpha testing in the United States and is planned to be released this year. Furthermore, Krafton develops several new titles, including The Callisto ProtocolProject Windless, and Project Cowboy.

Krafton has two other studios under its wing:

  • Bluehole, a PC-focused developer behind TERA (The Exiled Realm of Arobea), a flagship MMORPG, which was one of the first MMOs to integrate non-targeting combat systems;
  • RisingWings, a mobile game developer with several successful products in its portfolio, including golf simulator Golf King and multiplayer bowling game Bowling King.