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Online Gaming Nexon Set Price At $1.2 billion For IPO

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By Douglas A. McIntyre Published
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Online gaming firm Nexon Co fixed the price for its $1.2 billion initial public offering. The firm is viewed ast the Japan equivalent to Zynga which plans an IPO in the US which would value it as $10 billion.

The Nexon IPO shows that the public market for shares in Web 2.0 companies continues. Groupon (NASDAQ: GRPN) and LinkedIn (NASDAQ: LNKD) has gone public in the US, although each has lost a large part of its market cap. Zynga is scheduled to go public next week.

The biggest IPO of all will be Facebook’s which is scheduled for the spring and is likely to value the company at $100 billion. The offering is set to raise about $10 billion, which would give the largest social network a balance sheet comparable to some of the largest tech companies.

Facebook will have revenue of about $4 billion this year and be highly profitable.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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