Nexon Raises Big Money from IPO

December 14, 2011 -

Nexon has gone public on the Tokyo Stock Exchange and has managed to raise $1.17 billion from its IPO. Nexon's IPO is the biggest of the year for the exchange, putting the company's total market value of between $7.69 billion and $8.97 billion. In an interview with Bloomberg, Nexon CFO Owen Mahoney said that the social gaming and online gaming company plans on using the money to fund new acquisitions.

"We want to have currency and cash on hand to be able to move aggressively if and when opportunities come up," he said. "We like to buy teams and properties early in their life."

Big IPO aside, the company has already seen a dramatic decline its stock price on the first day of trading - down 3.9 percent.

Nexon was a pioneer in the early days of the free-to-play space with games like Maple Story. The company has built a large audience for that game in China, which reportedly represents a third of its total revenue and the company is banking on significant growth in the region over the next few years.

"Some people debate whether China's got a lot of growth in it," Mahoney said. "We think China is very early days."

Nexon claimed in its IPO filing that it had a total 1.2 billion registered players, with 77 million of those active as of September 2011. It also claimed that eight of its games have generated lifetime revenues of $100 million or more; three of those games have earned more than $300 million; and one which has earned $400 million.

"We can really bring a lot to the table," Mahoney added. "We know how to tune a game so that people will play it for months on end."

Source: GI.biz


 
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Infophileas being "family friendly." A kid could easily flip an option and be hit with a torrent of abuse they weren't expecting.05/26/2015 - 5:30am
InfophileI think Nintendo was between a rock and a hard place with voice chat in Splatoon. Leave it in, and jerks will drive off younger players. Leave it out, and competitive players won't play. Even if it were in but disabled by default, they couldn't sell it...05/26/2015 - 5:29am
Matthew Wilsonthis is a nice video on P.T https://www.youtube.com/watch?v=K-85jO6nRNQ05/25/2015 - 11:57pm
Matthew Wilsonmaybe, but its still kinda sad even as a joke.05/25/2015 - 11:51pm
Goth_SkunkThe best commentary is delivered through humour.05/25/2015 - 11:36pm
Andrew EisenIt's not needed. It's a joke. Albeit one with quite a bit of commentary packed into it.05/25/2015 - 10:59pm
Matthew Wilsonmot game related, but still interesting. http://www.polygon.com/2015/5/25/8654983/jurassic-world-chris-pratt-apology the fact that this is even needed in modern culture is a embarrassment.05/25/2015 - 10:26pm
Matthew Wilsonyeah, but with no voice chat its doa.05/25/2015 - 9:48pm
TechnogeekYet, you're going to be hard-pressed to find anyone other than insecure 2EDGY4U teenagers seeing it as anything other than an extremely fun game.05/25/2015 - 8:36pm
TechnogeekSplatoon's probably the best example at this point. Gameplay-wise, it's a team-based third-person shooter with a significant online component. It's rated E10.05/25/2015 - 8:36pm
TechnogeekThe silliest thing about most of the Nintendo hatred is that they may be the last company that interprets "family-friendly" as meaning "fun for more than just the really young kids".05/25/2015 - 8:33pm
ZippyDSMleeWell it could be worse, like skyrim out of the box, a shame DAI dose not have that level of editing...05/25/2015 - 5:58pm
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Goth_SkunkAs demonstrated by Ian's remarks, that 'market of possible fans' is apparently negligible.05/25/2015 - 4:18pm
Zeninformation while other versions had everything talked about openly.05/25/2015 - 4:15pm
ZenYeah, I've read through it and wanted to make sure I had it quoted correctly. I get there are issues, but this is horribly unprofessional and just burning a market of possible fans..many of which supported them and were waiting while getting little to no05/25/2015 - 4:15pm
Goth_SkunkOh wow. That's not even misquoted, he actually said that. Though for additional context in previous pages, he truly does not think highly of Nintendo console owners, and claims that in the industry, he's not alone.05/25/2015 - 4:12pm
ZenI also took a screenshot of the statement in case it is taken down (via my Twitter): https://twitter.com/zenspath/status/60293960536562483205/25/2015 - 4:05pm
ZenLink for my previous post - http://forum.projectcarsgame.com/showthread.php?27584-Project-Cars-Sales-figures&p=942776&viewfull=1#post94277605/25/2015 - 4:03pm
 

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