“ Metaverse ” tech firm GIANTSTEP’s IPO attracts consideration
March. 9. 2021
03/09/2021 4:15 PM
IPO of tech firm ‘Metaverse’ GIANTSTEP attracts consideration
|GIANTSTEP CEO Ha Seung-bong speaks at an IPO press convention held at 63 Constructing in Yeouido on Tuesday. / Courtesy of GIANTSTEP|
Digital actuality firm invested by Naver debuts at KOSDAQ on March 24
By Anna J. Park
Artistic visible tech firm GIANTSTEP is ready to debut at KOSDAQ later this month, attracting traders notably within the so-called “ metaverse ” trade. The metaverse refers to a nearly enhanced actuality utilizing augmented actuality (AR) applied sciences by means of which customers can work together with one another in a computer-generated surroundings.
Based in 2008, the inventive expertise firm has expanded its enterprise portfolio from an advertising-focused visible results firm to a real-time content material creator with cutting-edge Prolonged Actuality (XR) applied sciences.
Primarily based on greater than 5,300 visible results initiatives with massive conglomerates similar to Samsung, LG, SK and Hyundai over the previous decade, the corporate has reinvested its income in R&D in numerous innovative digital applied sciences just like the characters. digital and digital human initiatives. Korea’s main real-time content material firm.
GIANTSTEP collaborated on SM Leisure’s digital Okay-pop group Aespa, and the corporate efficiently performed the Okay-pop firm’s stay XR live performance final 12 months, the world’s first paid stay digital live performance. Korean portal tech big Naver additionally acquired round 10% stake in GIANTSTEP final August, partnering with numerous initiatives together with the manufacturing of digital content material. The corporate additionally works carefully with Walt Disney, Netflix, and NBC Common.
“With the purpose of being a world inventive expertise studio, GIANTSTEP will likely be a game-changer within the visible content material market, main an trade paradigm shift with differentiated applied sciences and authentic visible views,” stated the co – CEO Ha Seung-bong at Tuesday’s IPO. convention. The corporate is collectively managed by two co-CEOs, Ha Seung-bong and Lee Ji-chul.
The corporate’s two-day normal subscription interval for public share awards will start subsequent Monday. Its IPO is scheduled for March 24 on the extremely technological KOSDAQ. The share’s providing value is anticipated to be decided between 9,000 gained and 11,000 gained ($ 7.89 to $ 9.65), and newly raised capital of roughly 15.4 billion gained is anticipated to be spent on analysis and improvement in addition to key engineering staff.
The worldwide digital content material market is anticipated to register a mean annual development of 11% from 2017 to 2022, rising to a market of $ 2.9 trillion by 2022. The actual-time content material market, specifically, is anticipated to surge by 10 instances in comparison with 2017 to 2022, reaching $ 62.4 billion subsequent 12 months.