LINE social games platform files for IPO

Newsbrief: Following reports that LINE Corp, the Japanese company behind the LINE Game Platform, would soon file for an initial public offering, the company has now gone ahead with the filing, with a reported value at more than 1 trillion yen ($10 billion). While LINE has filed for an IPO in Tokyo, the company may be also looking to list on an exchange in the U.S., reports Inside Games Asia, as it aims to shift its focus towards casual games in the North American market. LINE is doing rather well for itself. At the end of 2013 it had 300 million registered users -- up for 40 million a year before -- and revenues of 34.3 billion yen ($338 million) in 2013, with 60 percent of that coming from in-game purchases.