DoubleDown Interactive (DDI) plans to raise $198 million in an IPO on Thursday, June 25th, IPO Scoop reports. The company will be issuing 11,000,000 shares at $17.00-$19.00 per share.

In the last year, DoubleDown Interactive generated $273.6 million in revenue and $36.3 million in net income. DoubleDown Interactive has a market cap of $896.2 million.

J.P. Morgan and BofA Securities served as the underwriters for the IPO and Macquarie Capital was co-manager.

DoubleDown Interactive provided the following description of their company for its IPO: “Our mission is to become one of the world’s leading global gaming companies by delivering differentiated content and playing experiences to our players. We are a leading developer and publisher of digital games on mobile and web-based platforms. We are the creators of multi-format interactive entertainment experiences for casual players. Our flagship game, DoubleDown Casino, has been in the top 20 grossing mobile games annually on Apple App Store since 2015, according to App Annie. Our newest game, DoubleDown Fort Knox, launched in April 2018, has already achieved three million cumulative installations as of March 31, 2020. “.

DoubleDown Interactive was founded in 2008 and has 280 employees. The company is located at 13F, Gangnam Finance Center, 152, Teheran-ro Gangnam-gu, Seoul 06236, Republic of Korea and can be reached via phone at +82-2-501-7216 or on the web at https://doubledowninteractive.com.

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