Agora isn’t the just business headquartered outside the United States aiming to go public locally this quarter. After capturing up on Agora’s F-1 filing, the China-and-U.S.-based, API-powered tech business that went public last week, today we’re parsing DoubleDown Interactive’s IPO document. The Exchange is a daily look at startups and the private markets for Additional Crunch customers; use code EXCHANGE to get complete access and take 25%off your membership. The mobile video gaming business is targeting the NASDAQ and wishes to trade under the ticker sign”DDI.” Similar To Agora, DoubleDown filed an F-1, instead of an S-1. That’s sinceit’s based in South Korea , but it’s somewhat more complicated than that. DoubleDown was founded in Seattle, according to Crunchbase, before offering itself to DoubleU Games, which is based in South Korea. Yes, the business is submitting an F-1 and will stay majority-held by its South Korean moms and dad company post-IPO, however this offering is more a local affair than it may at very first appear. Even more, with a$17 to$19 per-share IPO cost range, the business could be worth up to almost $1 billion when it debuts. Does that pricing make good sense? We want to learn.
So let’s quickly explore the company this morning. We’ll see what this mobile, social gaming company looks like under the hood in an effort to understand why it is being sent to the public markets today. Let’s go!
Any gaming company needs to have its fun-damentals in place so that it can have strong monetary outcomes? Right? [Editor’s note: A
Anyhow, DoubleDown is a nicely lucrative business. In 2019 its earnings only grew a hair to $273.6 million from $266.9 million the year prior to (a simple 2.5% gain), but the company’s net income rose from $25.1 million to $36.3 million, and its adjusted EBITDA rose from $85.1 million to $101.7 million over the exact same period.
Article curated by RJ Shara from Source. RJ Shara is a Bay Area Radio Host (Radio Jockey) who talks about the startup ecosystem – entrepreneurs, investments, policies and more on her show The Silicon Dreams. The show streams on Radio Zindagi 1170AM on Mondays from 3.30 PM to 4 PM.