‘Milli’s Library’, a KT affiliate and the largest reading platform in Korea, has begun the IPO process.
Milly’s library announced on the 29th that it had submitted an application for preliminary examination to the Korea Exchange with the goal of listing on the KOSDAQ. The listing manager is Mirae Asset Securities. A company official said, “We plan to go public within this year,” and “We will expand related investments in various fields, such as expanding original content with the secured funds.”
Milly’s library, which introduced a monthly e-book subscription service for the first time in Korea in 2017, has grown into the largest reading platform in Korea that has contracted with 1,400 partner publishers and 110,000 contents as of May. Milly’s study applied the subscription economy in the domestic e-book market and spread new-concept reading contents such as audiobooks, chatbooks, and audio dramas.
In September of last year, it was acquired by Genie Music under the KT group, and it is also conducting omnidirectional collaboration with various group companies that make up the KT media value chain.
Millie’s study achieved 28.9 billion won in sales last year. This is a 61% increase compared to 2020. Currently, the cumulative number of members of Milly’s library has increased by more than 1.5 million compared to last year, exceeding the number of 4.5 million as of April this year.
Seo Young-taek, CEO of Milli’s library, said, “Milli’s library is a young company that has only launched the service for less than six years, but it has grown explosively in a short period of time and has grown into the largest reading platform in Korea showing high recognition and usability.” “With the vision of Millie’s library of ‘reading and making friends without limit’, we focus on all the capabilities and resources of Millie’s library to broaden the horizon of book-based content, and through this, become a company that makes people’s daily lives more valuable and enjoyable. I will focus on being born again.”