Japanese Midcore Developer Gumi Eyes An IPO

TechCrunch

When Erick Schonfeld checked in with Gumi a year ago, they had about 120 employees and were on track to do $50 million in revenue. Now they’re at more than 500 employees. While they’re not disclosing revenue growth, the company is eyeing an IPO in Japan, possibly next year.

This is unlike other bigger independent developers like Gloops and Pokelabo, which instead chose to sell to Nexon and GREE in the past six months. Gloops, one of the bigger developers on DeNA’s Mobage platform, went to Nexon for $486.4 million, while Pokelabo went to GREE to bolster the company’s arsenal of smartphone titles.

“We are going to IPO,” said Hiranao Kunimitsu, who founded Gumi in Japan after traveling the world for 10 years. “I don’t want to sell my company to others.”

Gumi’s not the only one that’s gone down the IPO route. Klab went public last year and…

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