---
title: "‘Baby Shark’ producer dismisses speculation of $1-billion IPO"
description: "The company behind YouTube sensation “Baby Shark” dismissed speculation it’s preparing for an initial public offering in South Korea that would value the firm at $1 billion. “Baby Shark”, the one-and-a-half minute song about a family of sharks, is the most-watched video ever on YouTube, with more than 10 billion views."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "Business Maverick"
author: "Bloomberg"
author_url: "https://www.dailymaverick.co.za/author/bloomberg/"
canonical_url: "https://www.dailymaverick.co.za/article/2022-05-27-baby-shark-producer-dismisses-speculation-of-1bn-ipo/"
published: "2022-05-27T06:16:51"
updated: "2022-05-27T06:58:16"
lang: "en-ZA"
word_count: 207
---

# ‘Baby Shark’ producer dismisses speculation of $1-billion IPO

> The company behind YouTube sensation “Baby Shark” dismissed speculation it’s preparing for an initial public offering in South Korea that would value the firm at $1 billion. “Baby Shark”, the one-and-a-half minute song about a family of sharks, is the most-watched video ever on YouTube, with more than 10 billion views.

By Bloomberg · Published 27 May 2022, 08:16 SAST · Updated 27 May 2022, 08:58 SAST

## Content

Pinkfong Co hasn’t made a decision on an IPO, although it will keep reviewing the appropriate timing for a potential listing, the Seoul-based company said in a text message on Friday. The Seoul Economic Daily reported on Wednesday that the company, formally known as Smartstudy, will submit a preliminary listing application to the Korea stock exchange next month.[Read more: ‘Baby Shark’ Drive You Nuts? Creator Warns Penguins Are Next](https://www.bloomberg.com/news/articles/2019-01-15/-baby-shark-driving-you-crazy-creator-warns-penguins-are-next)

South Korea’s IPO market has cooled this year, despite the successful debut of battery maker LG Energy Solution in January, with a series of companies canceling plans to float amid a broader market slump. Conglomerate SK Group delayed plans to list its battery unit and an app market operator, while builder Hyundai Engineering & Construction withdrew its IPO.

Shares of Samsung Publishing Co, which [held](https://dart.fss.or.kr/dsaf001/main.do?rcpNo=20211129001157) almost 17% of Pinkfong as of the end of November, surged by the daily limit of 30% on Wednesday on the IPO speculation. The stock then plunged 13% on Thursday after Pinkfong Chief Executive Officer Kim Minseok [posted](https://www.news1.kr/articles/?4692481) a comment on Facebook saying “how come this journalist is aware of an IPO plan that I don’t know?”

The stock rose as much as 6.7% in early trading Friday before paring gains. **BM**