LINE, a popular Japanese messaging app is set to release the biggest tech initial public offering (IPO) this year.
LINE is known for its oversized stickers that feature adorable characters like Brown the bear and Cony the bunny. Currently, the app has more than 200 million users worldwide.
The corporation behind the messaging app enlisted its shares in New York and in Tokyo earlier this week. Its shares could increase up to $1.3 billion.
While the app provides free message and call services, its revenues are from the sales of their digital stickers. A researcher from an app design and development firm said that aside from ads, LINE also makes around $20million per month by selling stickers that their users can use while chatting.
Following their vision to become an overall lifestyle platform, LINE leverage into their consumer’s everyday lifestyle by introducing a number of services such as LINE Pay, LINE Music, LINE Taxi and LINE TV. Their varied offers made LINE the only Asian internet firm to establish international success so far.
LINE reported a constant growth in their profit which rose up to 40% from 2014 to 2015. The messaging app provider said that it aims to use the revenues from the IPO this week for business expansion to further boost their user growth.
