Stellar Blade developer Shift Up has achieved South Korea’s largest initial public offering (IPO) for a video game company in three years

[John Elden Ring]

Stellar Blade developer Shift Up has achieved South Korea’s largest initial public offering (IPO) for a video game company in three years.

As reported by Bloomberg, the Seoul-based company jumped nearly 50% on its first day of trading, raising 435 billion won ($320 million).

Shift Up’s offering is the first for a game firm to clear $50 million since 2021, when PUBG owner Krafton’s IPO reached $3.8 billion. Shift Up’s IPO is the second-largest in South Korea this year, behind HD Hyundai Marine Solution Co.’s $553 million offering.

Shift Up has said it plans to use the IPO proceeds to diversify its game portfolios, according to terms of the deal.

Source

 

[ToTTenTranz]

It's well deserved, they made a damn good game.

 

[rofif]

Amazing amazing game. Music too.
And no gaas!!!!

 

[GachaMadeMeBroke]

Fucking incredible game and one of my fav this year. Listen to the OST on the daily. Sony done good with this partnership

 

[Entropi]

I’m rooting for them. They know how to make a good action game.

 

[quest4441]

I bought 20 shares, lets see how it goes I see the price hovering around the 60-70 $ mark and if the nikke profits hit a new record they can breach 80+

 

[Neversummer]

OST is really good.

 

[voke]

They are an awesome studio, their gonna do great things in the AAA realm

 

[Evilnemesis8]

Guys, they're not valued at 3.5B because of Stellar Blade.
This is all because investors think they can possibly(?) replicate big revenue generation like what they do with NIKKE.

Goddess of Victory: Nikke reaches $750 million in 1.5 years

May 4th marked 1.5 years of Goddess of Victory: Nikke, the popular mobile shooter RPG from Shift Up. To celebrate this milestone, the dev has promised free s...

www.pocketgamer.biz

After 1.5 years, Nikke’s success has been a stable one as the game is well on its way to the unicorn club, averaging $250 million in mobile earnings every six months and rising from $500 million in its first year to $750 million today.

Of the $750 million generated from mobile players thus far, $457.5 million (61%) comes from the Japanese market. According to App Magic data, this places Japan far ahead of any other region for Nikke’s earnings, with the US ranking second at only $127.5 million (17%). Shift Up’s home territory, South Korea, contributes third-most to the game with $105 million (14%) spent so far.

Japan loving that fanservice gacha, lmao.

Honestly, they seem to be a bit overvalued if you look at their other contemporaries, be it in the console or mobile space.
Although that's not really all that uncommon with video game IPOs.
We'll see how things progress over time.

 

[quest4441]

Guys, they're not valued at 3.5B because of Stellar Blade.
This is all because investors think they can possibly(?) replicate big revenue generation like what they do with NIKKE.

Goddess of Victory: Nikke reaches $750 million in 1.5 years

May 4th marked 1.5 years of Goddess of Victory: Nikke, the popular mobile shooter RPG from Shift Up. To celebrate this milestone, the dev has promised free s...

www.pocketgamer.biz

Japan loving that fanservice gacha, lmao.

Honestly, they seem to be a bit overvalued if you look at their other contemporaries, be it in the console or mobile space. Although that's not really all that uncommon with video game IPOs.
We'll see how things progress over time.

Yes the valuation of them is not based on shift up per se, its based on them turning out to be another mihoyo. Nikke does pretty well and is always in the top 5 in sensor tower revenues, what Stellar Blade did was show investors that they can make a AAA gacha game that can try to duplicate Nikke's success on console and PC, the gameplay difference and complexity between nikke and SB is like night and day.

Investors are betting on the potential of Shift Up replicating nikke or turning out a genshin like hit in the future. All in all everything depends upon their next project which is supposed to be a sci fi rpg

 

[Evilnemesis8]

Yes the valuation of them is not based on shift up per se, its based on them turning out to be another mihoyo. Nikke does pretty well and is always in the top 5 in sensor tower revenues, what Stellar Blade did was show investors that they can make a AAA gacha game that can try to duplicate Nikke's success on console and PC, the gameplay difference and complexity between nikke and SB is like night and day.

Investors are betting on the potential of Shift Up replicating nikke or turning out a genshin like hit in the future. All in all everything depends upon their next project which is supposed to be a sci fi rpg

Tencent upping their shares in Shift Up is also probably signaling to investors that future Shift Up mobile offerings will probably also be released in China through some sort of partnership. Currently NIKKE is not officially released in China even though there is a Simplified Chinese option and a Chinese paying option. They have to play on the Japanese server.

One can be sure Tencent is going to rectify that with future releases because they have a vested interest to help with that.

 

[Jim Ryan]

Very much deserved.

 

[2spooky5me]

I know this is mega petty, but the people who tried to get this game/company/president cancelled (ex: Girl Gamers subreddit & REEE-era):
BTFO!!!

 

[YeezyDude]

Well deserved indeed and I can't wait for what's next!