SHIFT UP, the South Korean game developer behind Goddess of Victory: Nikke, the recently closed Destiny Child, and the upcoming PlayStation 5 exclusive action RPG Stellar Blade has filed to become a publicly traded company!
IPO Application
Shift Up filed an application for IPO for the Korea Stock Exchange, Kosdaq on March 5, 2024. The number of shares scheduled for sale during the upcoming public offering is 7.25 million, with a par value of ₩200 ($0.15) per share.
Company Valuation
Shift Up’s valuation approached ₩2 trillion ($1.5 billion) in October 2023, and Korean analysts expect it to reach a valuation of ₩3 trillion ($2.3 billion) after going public.
Stellar Blade
SHIFT UP is currently working on Stellar Blade, a third-person hack and slash game made in partnership with Sony Interactive Entertainment, which is expected to be released for PlayStation 5 on April 26, 2024. A demo was released early inadvertently, but was quickly taken down again. However, some players were able to get a hold of the copy and enjoy the upcoming game and it looks quite amazing!
Goddess of Victory: Nikke
Goddess of Victory: Nikke's continued success, surpassing around $600 million in player revenue on mobile only, has been a boon to SHIFT UP's valuation. With all that happening in the background, a new collaboration event with Re:Zero has been announced, and if the NieR collaboration was anything to go by, this could be another huge boost for SHIFT UP's valuation. Could it be too niche however?
Will you be investing in SHIFT UP? Let us know in the comments below!
