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Saturday, July 12, 2025

‘PUBG’ Creator Plans to Raise $5B in IPO

  • Krafton Inc. is preparing for an initial public offering next week
  • The “PUBG” creator plans to raise at least $5 billion by selling 20% of its shares.
Krafton/Design: Alex Brooks

South Korean video game holding company Krafton Inc. is preparing for an initial public offering next week and plans to raise at least $5 billion by selling 20% of its shares, according to Reuters. 

The Tencent-backed company would be valued at $25 billion if the transaction goes according to plan. The listing could end up being South Korea’s biggest since the $4.4 billion IPO of Samsung Life Insurance in 2010. 

South Korea has been IPO crazy, with $18.4 billion expected to be raised in 2021 — about four times 2020 levels. 

Krafton has made a name for itself as the company behind online battle royale gaming hit “PlayerUnknown’s Battlegrounds,” often referred to as “PUBG.”

Released in 2017, “PUBG” has become an international hit among gamers on every platform. 

  • Revenue reached $920 million in 2018, up from $220 million in 2017
  •  $790 million of 2018’s total revenue came from PC players.
  • “PUBG Mobile” was the top mobile game in 2020 with $2.6 billion in revenue. 
  • “PUBG Mobile” has generated $5.1 billion in lifetime player spending.

Krafton’s success, fueled by “PUBG,” has helped Tencent emerge as the world’s largest video game vendor. 

Last month, the Chinese conglomerate reported Q1 2021 revenue of $20.6 billion, a 25% increase year-over-year. 

Tencent’s gaming division, which includes everything from mobile to PC, generated $11.2 billion in the quarter, a 17% increase from the same period a year prior. 

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