Galaxy Corporation Becomes Unicorn with $1 Billion Valuation, Eyes IPO
Galaxy Corporation, an AI entertainment tech company, has achieved unicorn status this month with a valuation of $1 billion. CEO Choi Yong-ho, born in 1989 and now 36 years old, holds the title of the youngest unicorn CEO. He successfully completed a pre-IPO investment exceeding $100 million and is considering going public next year.
The company's valuation skyrocketed after signing G-DRAGON in August, doubling from $500 million in May 2023 to $1 billion. The pre-IPO round saw significant participation from major domestic institutions like Korea Investment & Securities (co-lead manager), Shinhan Venture Investment, and Envestor, as well as international capital from Taiwan's semiconductor-listed company Adata and Hong Kong-listed Star Plus Legend Holdings.
Galaxy Corporation Becomes Unicorn with $1 Billion Valuation, Eyes IPO
Investors have recognized Galaxy Corporation's innovative fusion of creativity and future growth potential, opting for full investment in common stock. Founded in 2019 with a capital of just 1 million won, the company has attracted over 180 billion won in cumulative investments, establishing a unique position in the industry.
Galaxy Corporation Becomes Unicorn with $1 Billion Valuation, Eyes IPO
Galaxy Corporation leads the entertainment tech sector with its four business models: media, IP, commerce, and tech, integrating AI technology with entertainment. The company solidifies its technical identity through R&D collaboration with KAIST and the establishment of an entertainment tech research institute. It maximizes AI technology synergy based on its experience in producing major content like KBS's '1 Night 2 Days', TV Chosun's 'Mr. Trot 2', and Netflix's 'Physical: 100 Season 2 – Underground'.
The secured funds will be primarily invested in advancing the AI-based entertainment tech platform and expanding global reach. Galaxy Corporation, with CEO Choi Yong-ho as the largest shareholder, recently gained industry attention by being the only entertainment tech company to attend the 32nd Asia-Pacific Economic Cooperation (APEC) Summit welcome dinner.
Lee So-jung, Ten Asia Reporter forusojung@tenasia.co.kr
