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'Baby Shark' creator Pinkfong's stock jumps 62% on 1st day
Business
Pinkfong, the company behind the catchy "Baby Shark" song, made a splashy debut on the South Korean stock market—its shares shot up 62% and hit a high of 61,500 won.
The IPO raised $53 million and was so popular, it was oversubscribed more than 600 times!
Why investors are excited
Investors are clearly interested in Pinkfong's next moves, especially as the company looks to grow beyond just toddler content with its lineup of characters like Bebefinn (which now earns even more than Baby Shark).
Most of Pinkfong's money comes from YouTube videos, ads, streaming royalties, and merch.
Even though its stock is trading below the industry average for media companies, there's a lot of buzz around how far this Korean entertainment brand can go.