See the original story in Japanese.
Tokyo-headquartered Mercari announced on Monday that its IPO application to the Tokyo Stock Exchange (TSE) has been approved. The company will be listed on the TSE Mothers Market on 19 June. Daiwa Securities will lead the underwriting.
Mercari was founded in 2013 by Shintaro Yamada who previously founded social game developer Unoh (subsequently acquired by Zynga). The company is well known for offering a mobile-focused C2C (consumer-to-consumer) marketplace but recently launched a bike-sharing service called Merchari as well as Mercari Fund to invest in other startups while developing a financial service called Merpay.
According to the consolidated statement as of June of 2017, they posted a revenue of 22 billion yen (about $200 million, about 180% increase from last fiscal year) with an ordinary loss of 4.2 billion yen ($38 million, 1,200% increase). Led by the company’s founder/CEO Shintaro Yamada (28.83%), United (10.59%), co-founder Hiroshi Tomishima (7.20%) and Global Brain (5.60%) head up the top investors’ roster.
See our past coverage of Mercari here.
Edited by “Tex” Pomeroy