Krafton could be valued at $27.2bn at IPO

Krafton could be valued at $27.2bn at IPO

PUBG maker Krafton could be worth a cool $27.2bn when it goes public later this year.

That's according to Bloomberg, which says that the company is looking at conducting its IPO in mid-to-late 2021, with a valuation of around 30 trillion won ($27.2bn) according to a report from Eugene Investment & Securities Co.

This valuation would make Krafton one of the most valuable games companies in the world. In fact, it would valued higher than Grand Theft Auto maker Take-Two, which currently boasts a market cap of $22.58bn. Which seems a bit mad?

Krafton is best known for battle royale hit Playerunknown's Battlegrounds, which has shifted 70 million copies since its launch back in March 2017. The mobile version of the game has been downloaded 600 million times. Krafton also has another mobile battle royale set in the PUBG universe in the works, alongside what is described as "another PUBG-related PC and console game by next year and a survival horror game in 2022 that will depict the PUBG universe three centuries into the future," which sure sounds like The Calisto Protocol from Striking Distance.

Krafton recently reorganised its internal development teams, bringing PUBG Corp inside the company and renaming it PUBG Studio. Its Bluehole team has become a new internal subsidiary, too.

As of March 2020, former PUBG Corp chief Chang-han Kim has been leading Krafton.

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.