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Mobile messaging and games company Line Corp is reported to be planning an IPO said to be worth as much as $8 billion.
Line has an audience of more than 270 million people worldwide tuned into its mobile messaging app – up from 120 million this March – and the company has decided to make gaming part of its monetization strategy.
That decision has proved fruitful; over half of the company’s $100 million in revenue last quarter came from in-game purchases.
According to a report from The Nikkei as translated by Dr. Serkan Toto, the Japanese firm will hit the Tokyo Stock exchange next summer with an estimated market capitalization of $8.2 billion.
That figure dwarfs the upcoming Twitter IPO, which is expected to raise about $1.6 billion.
Line Corp hasn’t confirmed the rumors, but said in a statement it’s just one of “various possibilities” for the company but that nothing has been officially decided.
