Bloomberg reports Asian mobile messaging Line (#1 in Japan) has confidentially filed for a U.S. IPO. Morgan Stanley is said to be running the offering.
Line, controlled by South Korea's Naver (OTC:NHNCF), has already filed to go public in Tokyo, while reportedly aiming for a ~$10B valuation. Pursuing a simultaneous NYC offering would allow the company to tap into strong U.S. interest in mobile messaging plays - interested heightened by the Facebook/WhatsApp deal.
With 470M+ registered users (not the same as active users), Line appears to be the world's 3rd-most popular mobile messaging platform, behind WhatsApp (500M+ monthly active users) and Tencent's WeChat (396M MAUs at the end of Q1, with the lion's share in China).
Line had 2013 revenue of $338M, and Q1 revenue of $143M (up over 3x Y/Y).
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