Social messaging service Line set to go public in 2014

In Other News - October 28th, 2013

The firm behind popular social messaging app Line is set to list on the Tokyo Stock Exchange.

Line Corp will have a market capitalization of 800 billion yen to 1 trillion yen when it goes public, potentially next summer, according to estimates in the market, The Nikkei reports.

The firm posted revenue of 12.8 billion yen for the April-June period, up 45% from the previous quarter.

While the app itself offers free voice calls and messaging, the company sells virtual stickers that are sent along with messages. It also generates profit from games and other services.

Line has 48 million users in Japan alone and more than 270 million worldwide. The app is offered in 17 languages and is available in such Asian markets as Taiwan, Thailand and Indonesia, as well as Europe and America.

The Nikkei says that Line will likely use the capital raised to develop new apps and to intensify advertising as it looks to expand abroad where social messaging is dominated by similar Western apps.

Other Asian mobile messaging apps are seen as the game changers of mobile messaging with largely free services and adorable smileys that have appealed to an ever-growing user base.

By Maesie Bertumen

Image: jonrussell/Flickr