Shift Up Announces IPO with $2.3 Billion Valuation Ahead of Stellar Blade Release

The South Korean developer, known for its hit mobile game and upcoming PS5 exclusive, plans to list over 58 million shares on the Korea Stock Exchange.

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.