[THE INVESTOR] Kids contents creating company CarrieSoft is planning to get listed on the second-tier KOSDAQ market in 2019, according to industry sources on Jan. 28.
“We are preparing for an IPO during the second half of this year,” a company spokesperson told The Investor, confirming the development.
It has reportedly chosen Mirae Asset Daewoo as its IPO manager and will start the process for going public before the month-end.
CarrieSoft plans to apply under the special standards of the bourse operator, which allows listing of promising companies that have not yet posted significant profits. So far, only tech and bio firms had been using this special evaluation process.
The company’s unique business model of making revenue by creating YouTube videos for kids, selling intellectual property rights and producing toys and goods with the characters used in its contents, will be evaluated as its potential technology that can grow the company. If it successfully goes public through this evaluation, it will become the first company to get its business model acknowledged.
Established in 2014, CarrieSoft’s sales in 2017 reached 6.3 billion won (US$5.65 million), while posting 400 million won operating profit. Industry insiders estimate that it sales last year surged to around 10 billion won.
By Song Seung-hyun (firstname.lastname@example.org)