Japanese mobile messaging firm gets over half its revenue from games
Mobile messaging and games company Line Corp is reported to be planning an IPO said to be worth as much as $8 billion.
Line has an audience of more than 270 million people worldwide tuned into its mobile messaging app – up from 120 million this March – and the company has decided to make gaming part of its monetization strategy.
That decision has proved fruitful; over half of the company's $100 million in revenue last quarter came from in-game purchases.
According to a report from The Nikkei as translated by Dr. Serkan Toto, the Japanese firm will hit the Tokyo Stock exchange next summer with an estimated market capitalization of $8.2 billion.
That figure dwarfs the upcoming Twitter IPO, which is expected to raise about $1.6 billion.
Line Corp hasn't confirmed the rumors, but said in a statement it's just one of “various possibilities” for the company but that nothing has been officially decided.