‘Baby Shark’ creator Pinkfong shares surge up to 62% on debut
The debut also comes as South Korean entertainment grows in popularity worldwide, thanks to K-pop bands such as BlackPink and BTS
[SEOUL] Shares of Baby Shark creator Pinkfong, jumped as much as 62 per cent on their trading debut as investors snapped up the studio behind YouTube’s most-viewed jingle, following strong demand for the small initial public offering (IPO).
The stock jumped to a high of 61,500 won in early Tuesday (Nov 18) trading. Though the IPO only raised 76 billion won (S$68 million), the stock was priced at 38,000 won apiece, the top end of the marketed range. The deal was so popular that investors offered to buy more than 600 times the number of shares being sold, according to statements.
Riding on the success of Baby Shark, which has been viewed more than 16 billion times, the company is going public to expand beyond toddlers’ screens and prove it can be a full-fledged media studio capable of producing the next breakout hit. The debut also comes as South Korean entertainment grows in popularity worldwide, thanks to K-pop bands such as BlackPink and BTS.
“Those piling into Pinkfong are likely betting to hit the jackpot,” said Kim Dojoon, chief investment officer at Zian Investment Management. He drew parallels to Samg Entertainment, which has more than tripled this year thanks to the popularity of its Catch! Teenieping animated series.
At the IPO price, Pinkfong’s stock is still undervalued at about 25 times 2025 earnings, compared with an average multiple of about 40 for its peers, according to estimates at NH Investment & Securities.
The company’s portfolio includes “Pinkfong” – its fox mascot – Baby Shark, Bebefinn, and Sealook. Many of its characters are patented, helping the firm reduce its dependence on Baby Shark for revenue. The Bebefinn franchise has now overtaken Baby Shark in terms of content revenue, according to chief executive officer Kim Min-seok.
The company’s business model centres on creating short, catchy videos on YouTube, streaming platforms, television, and mobile apps. Once these tunes gain traction, Pinkfong monetises them through advertising, streaming royalties, licensing, and merchandise – as well as live shows, games, and longer-form programming. BLOOMBERG
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