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Announcements
by Editor on December 22, 2006
Glu Mobile has finally announced their long-rumoured plans to be listed on the US stock exchange by filing for IPO (Initial Public Offering) on the Nasdaq. The company hopes to raise around US$92 million, to be used partially to pay off some debt, and partially to help expand the company.
Glu purchased UK publisher iFone in March this year for $23.5m, and has been attracting attention as a possible acquisition target for companies looking to expand into mobile gaming. The interest is despite it losing $17.9m in 2005, and over $10m in the first nine months of 2006 - but these days it's not about revenue but market share.Via The Register.
Permalink: Glu Goes Public
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Vote for Glu Goes Public:
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Rating: 6.00 out of 1 vote(s) cast.
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Response from:
Pola
(12/22/06 6:27am)
Let's look that they can think up interesting.
Response from:
Sam
(12/25/06 2:56am)
Well, finally! Must say, I've been waiting for this to happen.
Response from:
Stock strategy news
(04/27/07 11:26am)
I think we all expected that in such a climate, an IPO from Glu Mobile should have little difficultly raising funds and expanding into the mature European market where it can find out if the majority of consumers really want games on the go. More details on http://www.stockstrategyblog.com/page/2/
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