Messaging app Line’s parent company has filed to go public in mid-July with the aim of raising $1bn in an IPO that would value the company at $5.5bn.

The company also announced a new figure for its user base: 218 million monthly active users of the core Line app and its various spin-offs.

152 million of those people are in the company’s top four markets in Asia though, with its momentum in the west appearing to have stalled.

The fact that Line’s IPO will take place on the New York Stock Exchange as well as the Tokyo Stock Exchange indicates that the company retains its global ambitions, though.

“Listing on the NYSE will help strengthen our branding as a global company,” a spokesperson told TechCrunch.

“Line is a company that takes on challenges, and our simultaneous listing in Japan and the US is a declaration that we are ready to take on the world.”

Line has been the most active messaging app around music: its Line Music service launched in Japan last year, although the company’s acquisition of global service MixRadio ended in that service shutting down earlier this year.

EarPods and phone

Tools: platforms to help you reach new audiences

Tools :: Wyng

Through Music Ally’s internal marketing campaign tracking, we’ve recently discovered an interesting website by the…

Read all Tools >>

Music Ally's Head of Insight

Leave a comment

Your email address will not be published. Required fields are marked *