Kakao Games prepares IPO
Black Desert Online publisher will likely go public on KOSDAQ later this year
Kakao Games, the South Korean publisher of Black Desert Online, submitted an application today to make an initial public offering on the KOSDAQ, as reported by The Korea Herald. Should it pass the required screening, the company will likely go public by the end of the year.
Kakao Games is the gaming arm of internet company Kakao. Formerly known as Daum Games, it became Kakao Games after Kakao purchased Daum in 2014. The broad popularity of Kakao's instant messaging app KakaoTalk helped Kakao Games broaden its distribution scope in Asia outside of Korea. Since then, Kakao Games has set its sights on worldwide publishing deals, with Black Desert Online as its breakout international release. It is also responsible for publishing PlayerUnknown's Battlegrounds in Korea and for developing mobile titles such as Lord of Dice.
According to Samsung Securities, Kakao Games is worth an estimated $1.4 billion. The company reported in February that it had raised 140 billion won ($131.6 million) in investment from companies such as Tencent, Netmarble, Actozsoft, and Bluehole to further its expansion as a global developer and publisher.