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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Goth_SkunkAnd at long last, I think I'm finally done.06/30/2015 - 3:08am
Goth_SkunkAnd if those progressive games fail to make any headway in the market, don't blame gamer culture for not being cultured enough to appreciate the product. Own up to the fact that the game either sucks, is not interesting, or both.06/30/2015 - 3:06am
Goth_Skunknor suggest that the games industry and culture is rife with toxicity because of it and needs to change for the good of the medium. There is room in the market for progressive games to co-exist with games like Hatred, not replace them outright.06/30/2015 - 3:04am
Goth_SkunkAnd if the overly violent content of most AAA games or the perceived mistreatment of women in such games bothers one, by all means criticize it, but do not under any circumstances suggest that it such content shouldn't exist or be promoted,06/30/2015 - 3:02am
Goth_SkunkGames, for the most part, let you do this! You can be the man or woman you're not. You can escape reality and immerse yourself in the experience. And that's wonderful! I play as female characters all the time in games I play, when the option is available.06/30/2015 - 2:59am
Goth_SkunkA choice that nature denied transgender people at birth! People don't undergo gender reassignment because they want to be transgender; they undergo gender reassignment because they want to be the gender they identify with!06/30/2015 - 2:52am
Goth_SkunkBut I think it gets silly when people start asking for the ability to play as a transgender protagonist. I mean, why would one do that? One usually has the option to create a character that's either a man or a woman, gay or straight. You have the choice!06/30/2015 - 2:50am
Goth_Skunkfirst two games, a move which was ultimately corrected in the 3rd game. By extension, Dragon Age has always had the option, and good on it!06/30/2015 - 2:45am
Goth_SkunkBut it certainly is good to see developers entertain the allowance of allowing the player to develop their protagonist to be homosexual if they want. The Mass Effect series was criticized rightly for not allowing a male homosexual romance plot in the06/30/2015 - 2:44am
Goth_Skunkand only just by the slimmest of margins. Homosexuality is sadly still a hot button controversy in the USA, which makes developing a noteworthy game with a hardcoded homosexual lead or theme a dangerous risk to take.06/30/2015 - 2:37am
Goth_SkunkThe United States is the largest single customer base for video games in the world, and it only just mandated by rule of its Supreme Court that marriage ought to be just as much an inalienable right for homosexuals as it is for heterosexuals,06/30/2015 - 2:35am
Goth_SkunkFor example, it would be difficult for a developer to produce a AAA quality game where the protagonist is hardcoded to be MtF transgender, and convince enough people to buy it in order to make it worth its production costs.06/30/2015 - 2:31am
Goth_SkunkNo Mecha, not woe unto those who ask for representation. By all means, ask and be represented. I don't have an issue with it, nor would I say anyone in GamerGate does either. But be reasonable about asking too.06/30/2015 - 2:27am
Goth_Skunkthat would've made Benedict Arnold raise a glass in toast.06/30/2015 - 2:25am
MechaCrashGamers are more than straight white men, but woe unto those who actually ask for representation!06/30/2015 - 2:24am
Goth_SkunkBut Games Journalism, who in the past has stood up for gamers and developers, when their hobby was under attack by idealogues and governments for being overly violent, suddenly switched sides in a move06/30/2015 - 2:24am
Goth_SkunkYet the media continues to push that narrative, and they will continue to do so until their medium dies out from obscelesence or when the old guard retires and is replaced by people who were raised by gamers, people who know the score.06/30/2015 - 2:20am
Goth_SkunkGamerGate, by my view, is far more diverse and inclusive that the purveying culture surrounding games journalism right now. The stereotypical gamer is a straight white male, but GamerGate has shown, time and time again, that this is not really the case.06/30/2015 - 2:18am
Goth_SkunkAfter all, you did just call it a "problem."06/30/2015 - 2:15am
Goth_SkunkAs opposed to setting the bar high, creating a culture clique that promotes exclusivity rather than inclusivity. Cronyism rather than diversity. Do you feel that inclusivity and diversity are just buzzwords to be used whenever convenient?06/30/2015 - 2:12am
 

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