Makuake, a Japan-based crowdfunding platform backed by internet company CyberAgent, filed for an initial public offering on the Tokyo Stock Exchange on Friday, according to The Bridge.
The company hopes to fetch a valuation of $155m and is expected to list on the TSE Mothers Market on December 11.
Makuake was founded in 2013 by CyberAgent and was originally known as CyberAgent Crowdfunding. It operates a rewards-based crowdfunding platform that has made a name for itself through celebrity partnerships and supporting overseas firms with Japan-based launches.
The company has been profitable since 2017, posting revenues of 8.4m during its latest quarter and making a net profit of $384,000. Makuake currently employs approximately 60 staff.
Details about the company’s funding history could not be ascertained.
Makuake’s notable shareholders include CyberAgent, which owns 71.4% ahead of the IPO and will retain some 60% following the proposed offering. KSK Angel Fund owns a 13.7% stake, while chief executive Ryotaro Nakayama has a 5% shareholding.
