Report: Green Man Gaming has delayed IPO, value has dropped by $40m

Report: Green Man Gaming has delayed IPO, value has dropped by $40m

It would seem that digital retailer Green Man Gaming will not be going public as soon as expected.

That's according to The Telegraph, which reports that the company has delayed its plans to float citing a "very tough" market.

Furthermore, market sources claim that the company's valuation has dropped by roughly a third, from $131m (£100m) to $91.8m (£70m).

The first day of trading was initially set to be this week, October 19th.

This follows Codemasters, Team17 and Sumo Digital all going public in the last twelve months.

Speaking to in the wake of the firm announcing its intention to float, CEO Paul Sulyok (pictured) admitted that the company did need to raise its profile in the market.

"We aim to really start driving market awareness of Green Man Gaming," he said at the time.

"As a brand, we are practically unknown in what we do. The customers that buy from us are loyal and engage with us and continue to engage with us. But other than that, we are practically unheard of. My budget was tiny for brand marketing last year. I don't think we had any brand marketing the year before. We really didn't have the opportunity to drive market awareness. We want to drive performance marketing. All of those things will start to come into play at the back end of this year and the start of next."

We've reached out to Green Man Gaming for this story. 

PCGamesInsider Contributing Editor

Alex Calvin is a freelance journalist who writes about the business of games. He started out at UK trade paper MCV in 2013 and left as deputy editor over three years later. In June 2017, he joined Steel Media as the editor for new site In October 2019 he left this full-time position at the company but still contributes to the site on a daily basis. He has also written for, VGC, Games London, The Observer/Guardian and Esquire UK.