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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E. Zachary KnightAs for the whole "death of gamer" thing, I am personally patiently waiting for the day when being a person who plays games is as much of an identity as a person who reads books, watches tv/movie, listens to music. It will happen.09/18/2014 - 2:42pm
E. Zachary KnightThought I would share this io9 article as a bit of a rebuttal to the earlier Spider-man/Spider-woman comparison: http://io9.com/10-stupid-arguments-people-use-to-defend-comic-book-sex-163638182409/18/2014 - 2:41pm
Papa MidnightKyle Orland's response: http://arstechnica.com/gaming/2014/09/addressing-allegations-of-collusion-among-gaming-journalists/09/18/2014 - 12:41pm
Papa MidnightJames, I say this as a person who has managed a gaming press website before: This article is horrendous sensationalism: http://www.breitbart.com/Breitbart-London/2014/09/17/Exposed-the-secret-mailing-list-of-the-gaming-journalism-elite09/18/2014 - 12:41pm
Krono@james I never said you did. I was responding to Andrew's statement that he'd seen a mere two articles suggesting that the term gamer was tainted, by pointing him to a list of the articles that were more or less the orgin of the idea.09/18/2014 - 12:09pm
E. Zachary KnightBut james, you replied to my tweet when I tweeted about one of those articles. That is basically the same thing as writing an editorial on GP in support of it. ;)09/18/2014 - 12:04pm
james_fudgeNot only did we not write one, we didn't cover any of them either.09/18/2014 - 11:46am
KronoThe underlying suggestion most of the articles had that gamers supporting the issue were just the young men stereotype pissed off a lot of people, and sparked the #NotYourShield tag09/18/2014 - 9:41am
Krono@andrew Just two? The whole reason #GamerGate gained real traction was that 9 op-eds including arguments to that effect dropped in 24 hours: http://markdownshare.com/view/a524affd-e679-40be-8aa1-72058065dc2a09/18/2014 - 9:38am
MaskedPixelantehttp://www.gog.com/forum/general/double_fine_abandoned_spacebase_df9_development ITT: People who don't know what Early Access is.09/18/2014 - 9:32am
ZippyDSMleeFF2/4 remake now on steam.09/18/2014 - 9:13am
james_fudgeThis what they really think of us: http://www.donotlink.com/framed?54192709/18/2014 - 9:10am
ConsterAh yes, nothing quite says "I take offense to being associated with an awful few" like siding with said awful few.09/18/2014 - 9:07am
Michael ChandraSo be smart, and if you want to be part of the good guys, separate yourself from the bad guys. Don't attack those upset you won't.09/18/2014 - 6:30am
Michael ChandraMeanwhile, Gamergate is tainted and wise people already use a different tag to defend decent arguments. Keeping it up is like going #KKK while arguing about PoC.09/18/2014 - 6:30am
Michael ChandraSo while claiming to be unfairly attacked for the actions of a selected few, you unfairly attack an entire crowd for the actions of a selected few? #notagamer #butahater09/18/2014 - 6:30am
james_fudgeQuiknkold: Let me ask you- how many of those 'gamers are dead' articles did you see here? Because apparently i'm part of some vast conspiracy.09/18/2014 - 5:18am
NeenekoAh, that old straw man. That is one of the ironies about the discussion, the whole point is showing how good people can still have problems with sexism and not realize it.09/17/2014 - 9:11pm
Andrew EisenYes, there have been a handful of op-eds suggesting that the term “gamer” has become tainted (two that I know of) but that’s the opinion of only a few. I've seen an equal number from those who disagree.09/17/2014 - 8:55pm
Andrew EisenExcept, you haven't provided a single example of a site that’s actually calling gamers a "collective of Sexist White Bigoted Basement Dwelling Manchildren."09/17/2014 - 8:55pm
 

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