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South Korean game developer DoubleDown Interactive files for a $100 million US IPO

June 2, 2020
DDI

DoubleDown Interactive, a South Korean developer and publisher of mobile and web-based games, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.

The company currently offers four social casino and casual games, DoubleDown Casino, DoubleDown Fort Knox, DoubleDown Classic, and Ellen’s Road to Riches, which have been installed over 100 million times to date. Its games averaged over 3 million players per month in the 1Q20, up from 2.8 million players per month in 2019.

The Seoul, South Korea-based company was founded in 2008 and booked $281 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol DDI. DoubleDown Interactive filed confidentially on January 22, 2020. J.P. Morgan and BofA Securities are the joint bookrunners on the deal. No pricing terms were disclosed.