Niantic IPO: Is the gaming company gearing up for public offer? - Kalkine Media

November 29, 2021 09:19 AM PST | By Versha Jain
Follow us on Google News:

Highlights

  • Niantic builds real-world metaverse, augmented reality, accessible on smartphones.

  • Its Pokemon GO and Ingress have been popular games.

  • Niantic was valued at over US$9 billion after raising US$300 million from Coatue. 

The gaming company has recently raised US$300 million from global investment firm Coatue, bringing its valuation to US$9.0 billion. 

The San Francisco-based company develops augmented reality-based games. It has built a planet-scale augmented reality platform for generations of AR hardware. 

The company plans to use the funds to expand the Lightship developer platform and the Real-World Metaverse for developing new apps and games.

Niantic IPO: Is the gaming company gearing up for public offer?

The company launched the Lightship platform early this month after the success of its Pokemon Go and Ingress Prime games. Lightship offers developers a platform to experiment with AR. 

Also Read: Five metaverse cryptos that are making news

 (Niantic Gaming company, when is its IPO coming?)

Also Read: Seven hot dividend stocks to watch in 2022

Niantic Products

According to the company, millions of people play Niantic games, including the popular Pokemon GO. Players of Pokemon GO have walked over 10.9 billion miles to date, it said. Last month, it launched the Pikmin Bloom, a smartphone app that bring joy to walkers.

The company aims to develop technology to bring people close to the outside world.

Its Lightship AR Developer kit (ARDK) offers users opportunities to develop AR games based on their vision. The ARDK kit has been used by companies like Universal Pictures, Softbank, the PGA of America, Warner Music Group, etc.

Lightship focuses on AR products that can be used through smartphones instead of VR-based headsets as these are found to be cumbersome and inaccessible to all. 

Also Read: Five high-growth tech stocks to watch in 2022

Niantic, spun off from Google, aims to make the world a happy place through its AR products. The Pokemon GO game has proven to be a huge hit. It earned around US$1 billion in 2020. However, analysts expect higher earnings for the company in 2021.  

Also Read: Polestar 5 sedan reveals production timeline, up against Tesla, Lucid

Bottomline

As the metaverse concept permeates into various spheres and becomes a reality, Niantic hopes its newest Lightship ARDK platform will provide a steady stream of revenue and major draw for investors in the run-up to the IPO. Although the company hasn’t provided a specific date for the IPO, analysts expect it might come sooner than later.


Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures/music displayed/used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it, as necessary.



Top Listed Companies