The entertainment corporation "The Pinkfong Company," famous for its "Baby Shark" intellectual property, is enmeshed in rumors of a sale of its management rights.
According to the industry on the 1st, The Pinkfong Company, which is pursuing an initial public offering (IPO), is reportedly considering a dual-track strategy that includes the sale of its management rights.
The Pinkfong Company filed a preliminary examination for listing on the KOSDAQ with the Korea Exchange in May. This is a second attempt at an IPO in six years. At the same time, it is also reported that discussions about the sale of management rights, including the equity of major shareholders like CEO Kim Min-seok, are underway.
Founded in 2010 by CEO Kim Min-seok, the son of Kim Jin-yong of Samsung Publishing, The Pinkfong Company rapidly grew starting from the launch of its "Baby Shark" content in 2015. The "Baby Shark" content has established itself as a global intellectual property, available in 25 languages across 244 countries through platforms like YouTube. Thanks to this, it recorded revenues of 97.3 billion won and an operating profit of 18.8 billion won last year.
Currently, CEO Kim Min-seok holds 18.44% of The Pinkfong Company equity, Samsung Publishing holds 16.77%, and KT holds 9.17%.
Celebrating the 10th anniversary of the launch of "Baby Shark" this year, The Pinkfong Company is establishing its fifth overseas corporation in Japan, following the United States, China, Hong Kong, and Singapore, and is accelerating its overseas expansion.
A representative of The Pinkfong Company noted, "We have discussed various possibilities regarding the sale of the company, but there are no specific confirmed details."