Chukong Holdings Limited, a Chinese mobile game and service provider, has filed for $150 million US IPO.
The company, according to SEC filing, positions itself as a mobile content platform and development service provider, but it’s more known as a mobile game developer and, more recently, mobile game development service provider. In 2013, 98.5% of its total revenues were from mobile gaming and the rest, 1.5%, was from advertising — it runs a mobile advertising platform PunchBox.
The company got traction in China through one in-house developed mobile game, Fishing Joy. Back in 2011 about 90% of its total revenues was from this game.
In 2013, Fishing Joy’s share in total revenues was diluted to 53.8% as the company began operating licensed mobile games from 2012. The SEC filing shows the company was operating 82 licensed mobile games as of the fourth quarter of 2013.
Chukong made a net loss of USD8.2 million in 2013. It’s largely due to the investments in iOS/Android gaming engines such as cocos2D-x and other developer-facing services. The company plans to introduce more offerings, such as data analytics service and Cloud services, to mobile developers later on. The company says their goal is becoming “a leading global mobile entertainment platform”.
Co-founded in by Chinese serial tech entrepreneur Chen Haozhi and technologiet Gary Guanqun Liu in 2010, Chukong is based in Beijing, China.