Overview

• Shift Up, the developer behind the popular mobile game Goddess of Victory: Nikke and the anticipated PS5 exclusive Stellar Blade, has filed for an IPO on the Korea Stock Exchange.
• The company's valuation is expected to exceed $2.3 billion, with over 58 million shares to be listed, including 7.25 million shares available during the initial public offering.
• Founded in 2013, Shift Up has seen significant success with its mobile titles, leading to multiple rounds of investment, notably from Chinese tech giant Tencent.
• Stellar Blade, set to release on April 26, 2024, has garnered attention for its high-quality production and partnership with Sony, further boosting Shift Up's market appeal.
• Concerns arise over the impact of going public on the studio's creative direction and consumer-friendly practices, amidst fears of reduced generosity in its gacha game offerings.