Breaking News: Gree goes IPO
Gree Inc. Japanese Social Network Service (SNS) company which has been chasing Mixi in PC web, and Mobage-Town/DeNA in mobile web, seems to be listed on the Tokyo Stock Exchange Mothers (Tosho Mothers) around December 17th. No mentioned on Gree’s company site yet.
Both Gree and Mixi launched in February 2004, seeing orkut’s success which just began the month before, January 2004. At the early stage Gree got more attentions mainly from IT industry workers and university students, but soon find themselves supplanted by Mixi which targeted female and non-technical users. Recently Gree put more power into cellphone SNS with casual Flash games and rumoured IPO for year.
The number of registered users on October 20th 2008 is over 7 million [J]. Mixi’s one is over 15 million at the point of July 14th 2008. [J]
[Update] Arai’s more detailed research has come
See Also:
Tokyo Stock Exchange / Gree [J]
Author Information Akky Akimoto is a one of the first pro-bloggers in Japan [J]. As an individual he writes for Asiajin and his own weblog [J]. He also produces web services including Twitter book recording service IvRead.com and comparison-chart community Narabe.com. Currently traveling in Taiwan. 4 Responses to “Breaking News: Gree goes IPO”
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Asiajin reports thatGree will make a public offering- following in the footsteps of Mixi. You might recall that Charlene Li calculated that Mixi’s value translated into $200 per user at that time. Young Japanese people have adopted Social Networks in a big way. (But not quite as much as Koreans).
[...] Gree (TSE:3632) and Paperboy (JASDAQ:3633) went public on December 17th and 19th respectively as we reported before. [...]
[...] rewards this performance with a market cap that currently stands at a whopping $1.4 billion. GREE, which went IPO in December last year, dwarfs former rival Mixi whose market cap currently reaches just $700 [...]
[...] platform is becoming scary, as in bubble-type scary. Stocks are rising and rising since the company went IPO in December last year and the financial situation keeps on improving, [...]