Category: general

‘Baby Shark’ Creator Pinkfong Rises In South Korea IPO Debut

The post ‘Baby Shark’ Creator Pinkfong Rises In South Korea IPO Debut appeared com. Founded in 2010, Pinkfong was a little-known entertainment company until its “Baby Shark Dance” children music video on YouTube exploded in popularity in 2018. Charles Sykes/Invision/AP Pinkfong, the Seoul-based studio behind “Baby Shark Dance”-the world’s most-watched YouTube video-saw its shares rise 9. 3% in its South Korea stock market debut Tuesday, boasting a market cap of 596 billion won ($407 million). Pinkfong’s shares on the small-cap Kosdaq soared to a high of 61, 500 won in intraday trading, before closing at 41, 550 won. The company raised 76 billion won from the sale of 2 million shares at 38, 000 apiece, the top end of its marketed range. Founded in 2010, Pinkfong was a little-known entertainment company until its two-minute “Baby Shark Dance” children music video on YouTube exploded in popularity in 2018. The video caught children’s eyes and ears with its colorful animation featuring Baby Shark and Pinkfong the fox, simple dance moves and repetitive lyrics. In 2020, it became YouTube’s most-watched video, a title it still holds today, generating cumulative views of 16. 4 billion to date. Riding on the global success of the Baby Shark singalong, Pinkfong has since expanded into television shows (such as the Baby Shark’s Big Show! co-produced with Nickelodeon Animation Studio in the U. S., the creator of SpongeBob SquarePants), musicals, educational apps and merchandise for kids. The company also grew its IP portfolio beyond its signature shark and fox, adding characters such as Bebefinn, a pink-haired toddler whose favorite character is Baby Shark, and Sealook, a group of chubby seals. Its Bebefinn preschool animated show broke into Netflix’s top 10 kids chart across nine countries, including the U. S., soon after its debut on the streaming platform in 2022. Forbes‘Baby Shark’ Creator Grows UpBy John Kang With capital raised from the IPO, Pinkfong plans to expand its audience from.