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takyon writes:

Yet another big messaging app maker, Line (owned by the South Korean Naver Corporation), is attempting an IPO:

There's a chance you might not have heard of Line but the Japanese messaging service is set to sell shares for the first time in an initial public offering (IPO) in both New York and Tokyo.

[...] Line is the most popular messaging app in Japan, Thailand and Taiwan. It is similar to the likes of Whatsapp, Facebook Messenger or WeChat in China. While it is close to those, it does have some features that set it apart: virtual stickers, cartoon-like animated emojis and games with mascots such as a bear called Brown and his rabbit friend Cony. You can make video calls, stream video or order taxis with it. It also offers a timeline much like Facebook does. Line has about 218 million monthly active users and makes its money from advertising and selling its virtual stickers and games.

[...] The company is set to raise up to $1.3bn (£1bn) when it lists its shares, after setting its flotation price at 3,300 yen ($33; £25) per share. It's being described as Japan's biggest tech IPO of the year but in fact it could have been significantly bigger. When Line was scheduled for an initial public offering two years ago, there was talk of a valuation of more than $10bn. But that was at a time when the user base was still growing at record pace, and those days are over.

The major revenue for the company? Selling sets of branded "stickers" (basically larger and more complicated emoji) to use in chat.

The company raised over $1 billion and was ultimately valued at $8.6 billion by the market. It was the best week for the Nikkei stock exchange since 2009.

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