Company behind 'Baby Shark' hopes to accelerate global growth after IPO: CEO
Characters featured in animation content made by The Pinkfong Company are seen at an event held at a theme park in southern Seoul, July 3. Courtesy of Samsung C&T
The Pinkfong Company, the creator behind the mega-hit animation "Baby Shark Dance," hopes to become a global entertainment company by strengthening its content-making capabilities through a stock listing, its chief executive officer (CEO) said Monday.
"We are not just an animation studio but a company that builds sustainable content businesses in the global market, utilizing our artificial intelligence (AI) technology and big data," company CEO Kim Min-seok said during a press conference ahead of the company's planned initial public offering (IPO) slated for Nov. 18.
"Our KOSDAQ listing will mark the official start of such a transition," he added.
Founded in 2010, the Pinkfong Company makes children's content in 25 languages, featuring characters such as Pinkfong, Baby Shark and Bebefinn.
It came under the spotlight after the animation "Baby Shark Dance" went viral in 2016, racking up more than 16 billion views on YouTube to date.
The Pinkfong Company's chief finance officer, Choi Jung-ho, said the funds raised through the IPO will be invested into developing new intellectual properties and the company's global expansion.
"We plan to expand our global businesses starting with Europe in 2026 and then to Southeast Asia in 2027," Choi said, adding the company already has offices in the United States and Japan.
He also unveiled the company's new content creation system powered by big data and AI, as well as its AI-based translation and dubbing tool, OneVoice.
The company plans to offer 2 million shares on the market at a price between 32,000 won ($22.40) and 38,000 won per share.
Given that the final IPO is confirmed within the price band, the company could raise as much as 76 billion won.
It posted sales of 97.4 billion won and an operating profit of 18.8 billion won in 2024, according to the company.