Pinkfong Goes Public as 'Baby Shark' Fuels $53M Kosdaq IPO Push

Pinkfong, the South Korean children's media company best known for the global viral hit Baby Shark Dance, is set to make its stock market debut on November 18 on the Kosdaq exchange. The listing aims to capitalize on the company's massive online reach and expand its ambitions into a full-fledged media enterprise. The firm's family founders, including co-founder Kim Min-seok, are projected to see significant wealth gains from the IPO.

The Baby Shark Dance video, uploaded in 2016, has amassed over 16 billion views on YouTube and is one of the most-watched videos of all time. It helped transform Pinkfong from a small content studio into a household name in children's media. The song's reimagined melody and colorful animation made it a hit with toddlers and parents worldwide.

Pinkfong's success has not come without challenges. The company faced a copyright lawsuit in 2019 from U.S. composer Jonathan Wright, who claimed the song copied his 2011 version. However, South Korea's Supreme Court dismissed the case in August 2025, ruling in favor of Pinkfong and clearing it of infringement. The court found that Pinkfong's version was an original reinterpretation of a public-domain chant.

From Viral Hit to Public Company

Pinkfong, formerly known as SmartStudy, was co-founded in 2010 by Kim Min-seok and Son Dongwoo. Both had backgrounds in South Korea's gaming and IT industries before focusing on children's educational content. Samsung Publishing held a 16.8% stake in Pinkfong before the IPO. The family's combined net worth, based on stakes in Pinkfong and Samsung Publishing, is now estimated at 246 billion won ($169 million) at the IPO price.

Kim Min-seok, 44, did not originally aim to create a global hit. After working at gaming companies like Nexon and developing content for kids at Samsung Publishing, he co-founded Pinkfong to target the growing market for educational content on smartphones. The company has since expanded its reach, producing content in 25 languages and creating new characters and franchises to reduce dependence on any single hit.

Strategic Moves and Expansion Plans

The company plans to use the IPO proceeds to develop new, patentable content and enhance its artificial intelligence and 3D production capabilities. It also aims to strengthen its presence in overseas markets, including North America, Japan, Europe, and Southeast Asia. The listing is seen as a pivotal step in Pinkfong's transformation from a single-song success into a diversified media brand.

Pinkfong's IPO has attracted significant investor interest, with the 76 billion won ($53 million) offering priced at the top of the range. Analysts are optimistic about the stock's potential, with one predicting a 22% increase over the next 6 to 12 months. The listing also provides Pinkfong with a transparent valuation and a platform to attract long-term investors as it builds a more diversified revenue model.

What This Means for Investors

The IPO is more than just a financial milestone for Pinkfong. It signals the company's confidence in its ability to launch new characters, shows, and intellectual property each year. CEO Kim has outlined a detailed roadmap through 2030, with plans to create at least one new IP annually according to analysts. The company's focus on "snackable" content-short, catchy videos that are easy to consume and monetize-has proven effective on digital platforms.

Pinkfong is one of the most sought-after acquisition candidates in the global animation industry, according to an analyst at Douglas Research Advisory. The company's brand recognition, digital reach, and growing IP portfolio make it an attractive asset for potential partners. With over 280 million subscribers across its YouTube channels, Pinkfong has established a strong foundation for future growth.