The Pinkfong Company, which captivated the world with 'Baby Shark,' wrote a new chapter by successfully listing on the KOSDAQ market on November 18, 2025. It raised approximately 8 trillion won through a high competition rate of 846.9 to 1 in the general subscription, and after being set at an initial public offering (IPO) price of 38,000 won, it showed strong performance on its first day of listing, proving the market's keen interest. This is evaluated as an important milestone that goes beyond the listing of a simple content company, demonstrating the global competitiveness of K-content and the growth potential of IP (intellectual property)-based businesses. The Pinkfong Company plans to use the funds secured through this listing to develop new IPs, enhance the production process, produce premium animations, and expand its global LBE (Location-Based Entertainment) business.
The Pinkfong Company's listing is backed by overwhelming global IP power. The company, which started as 'SmartStudy' in 2010 and changed its name to its current one in 2022, caused a worldwide sensation with 'Pinkfong' and 'Baby Shark.' In particular, the 'Pinkfong Baby Shark Dance' video surpassed 16 billion views on YouTube as of October 2025, and recorded the No. 1 global YouTube views for 59 consecutive months. This success is due to the 'Born Global' strategy. From the beginning, it targeted the global market and planned, produced, and distributed over 7,000 pieces of content in 244 countries and 25 languages, expanding its overseas sales to about 74% as of 2024. The repetitive melody, easy dance moves, and family-friendly messages received enthusiastic responses from children and parents around the world, which played a decisive role in The Pinkfong Company's growth into a global family entertainment company.
The Pinkfong Company had previously pushed for a listing, but it was postponed due to performance volatility, including operating losses in 2023, and the unfavorable market conditions. However, with the success of the new IP 'Bebefinn' in 2024, it recorded sales of 97.4 billion won and operating profit of 18.8 billion won, succeeding in a rebound in performance, and it resumed listing in line with the recovery of the IPO market atmosphere in 2025. The corporate value, which was initially valued at 700 billion won to over 1 trillion won, was conservatively adjusted to a maximum valuation of 545.3 billion won in order to complete the listing. This was an effort to reflect the company's actual strength by adopting the EV/EBITDA method, considering the volatility of the net profit indicator due to the nature of the content industry. Along with this realistic approach, the shareholder-friendly policies, such as the two-year mandatory holding commitment by CEO Kim Min-seok, contributed to gaining the trust of investors.
The Pinkfong Company aims to go beyond a simple content creator and become an 'entech company.' One of the core strategies is the active use of AI and data technology. The in-house developed AI translation and dubbing tool 'OneVoice' improves multilingual localization efficiency and enhances production quality, and it will be applied throughout the IP production process. In addition, it is promoting original content scheduling and multi-platform customized content releases by utilizing big data analysis capabilities, which have reached 140 billion views and 240 million subscribers (as of October 2025) on YouTube. This data-driven production system led to the achievement of 'Bebefinn' reaching 10 million YouTube subscribers much faster than 'Pinkfong.' The Pinkfong Company was selected as the lead organization for the 2025 K-Content AI Innovation Leading Project and is also focusing on the development of AI immersive interactive content through a 10 billion won national project.
The Pinkfong Company is not resting on the success of 'Pinkfong' and 'Baby Shark,' but is strengthening its IP portfolio by continuously introducing next-generation IPs such as 'Bebefinn,' 'Silook,' and 'Kiki PopPop.' In particular, 'Bebefinn' achieved No. 1 in the Netflix Kids section in 11 countries, including the United States, and reproduced the hit formula, and 'Kiki PopPop' is attracting expectations as a joint production project with TBS, one of Japan's five major terrestrial broadcasters. In addition, it is expanding into the B2B business area. It is diversifying its revenue model by providing YouTube channel operation and advertising consulting services to other companies through YouTube channel consulting and content and app solution businesses. It is also actively implementing customized localization strategies by establishing its fifth overseas corporation in Tokyo, Japan, and surpassing 110,000 cumulative sales of local sound books.
The Pinkfong Company plans to invest heavily in IP advancement and diversification and the expansion of its global LBE business with the funds secured through this listing. It plans to expand brand experience and fandom simultaneously by introducing new IPs every 2-3 years and running offline experience businesses in parallel. The estimated sales for 2025 are 113 billion won, and the operating profit is 28 billion won, and it is expected to grow both in size and substance through IP expansion and MD and license expansion. Of course, the constant development of new IPs and agile response to changes in market trends are important due to the nature of the content industry. However, The Pinkfong Company has prepared to write a new success story beyond 'Baby Shark' based on data and technology-based innovation and a deep understanding of the global market. This will be an example of how K-content can exert a stronger influence in the global entertainment market.
A1: The Pinkfong Company owns various global IPs, including 'Pinkfong' and 'Baby Shark,' as well as 'Bebefinn,' 'Silook,' 'Hogi,' and the recently released 'Kiki PopPop.'
A2: To secure funds and enhance corporate value for new IP development and release, IP production process enhancement, premium animation production, and global LBE (Location-Based Entertainment) business expansion.
A3: On the first day of listing on November 18, 2025, the stock price rose strongly, rising about 30-50% compared to the IPO price of 38,000 won.
A4: Enhancing AI and data-based content production systems, continuous development and global expansion of new IPs, strengthening the targeting of overseas markets such as the establishment of a Japanese corporation, expansion of B2B solution businesses, and expansion of fandom through offline LBE businesses.
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