The Chinese publisher of mobile games iDreamSky has filed an application with the U.S. Securities and Exchange Commission to place securities on Nasdaq. Plans to raise $115 million.
iDreamSky is a curious company.
In China, the publishing house has its own platform, several app stores, contacts with vendors who put its games as pre-installed applications on devices, analytics, tools for optimizing and monetizing games.
In the west, iDreamSky is primarily known for successfully launching Temple Run 2, Subway Surfers and Fruit Ninja in China.
Last year, iDreamSky earned about $40 million. The company earned this money from 73.9 million accumulated downloads.
For comparison, a year earlier she earned $4.6 million. We cannot speak with absolute certainty, but it seems to us that the main jump in revenue and downloads occurred precisely after the start of distribution of games from Imangi, Kiloo and Halfbrick.
It seems strange for a company deprived of its own strong IP to enter the American stock exchange, but the Chinese plan to raise the $115 million necessary for further business development at the end of the auction and, quite possibly, attract several more significant players in the Western market to the Chinese market as their partners.
P.S. The application also reveals some interesting figures concerning the Chinese market:
- There are 299.8 million mobile Internet users playing games in China;
- According to the forecasts of Analysys Report, China’s mobile gaming market in 2016 will amount to $6.8 billion.
A source: http://technode.com