Netmarble’s Game a Bust in the USA – Stock Price Target- 103,000 KRW

Summary Our analysis of Netmarble’s IPO was that it was “priced for perfection”.  While the Lineage 2 game releases has been near perfect in Korea and Japan, its release in the USA has been a bust and the release in China is on hold due to geopolitical tensions. As a result, we predict that Netmarble’s […]

Netmarble IPO: How Greed Destroyed Its Kabam Acquisition

Netmarble is the ninth largest mobile app game publisher in the world and the largest in South Korea. In a month, the company is set to raise $2.3 Billion via an IPO on the KOSPI Korean stock exchange. If successful, the company will be valued at $11.7 Billion and catapult it to the level of […]

Netmarble IPO: Priced for Perfection

Netmarble is the ninth largest mobile app game publisher in the world and the largest in South Korea. The company is seeking to sell 17 million shares on the Korean KOSPI stock exchange in early May garnering proceeds of between $1.8 Billion and $2.4 Billion USD (all USD figures converted from Korean Won at .00088 USD / Won). Roughly […]

A Unicorn Startup’s Kiss of Death: Kabam Field

The year 2016 will be remembered as a year when titillating stories came out about Unicorn excesses — Dropbox’s Chrome Panda sculpture, Hampton Creek’s covert buy-backs of Just Mayo inventory, and Zenefits’ sex in the stairwell. This is a story about Kabam, another fallen Unicorn, and its excesses. More than just descriptive, we analyze its history to […]

Kabam: An $800 Million Bid That Is Both Lifeline and Death Knell

Kabam (Private:KABAM) is a mobile game startup based in San Francisco that had early success at developing games based on movie IP licensed from major studios like Disney’s Marvel studio, Warner Bros., and Lionsgate. Beginning in 2014, Kabam started timing new releases to coincide with the releases of mega-hit movie sequels like Fast and Furious […]