Andre Yoskowitz
11 Feb 2010 16:39
The video game rental service GameFly has filed an IPO today, becoming a publicly traded company and raising $50 million USD. The company will trade on the NASDAQ under the ticker GFLY.
The company has 334,000 subscribers and had revenue of $46.4 million for the six months ended September 30th, 2009. Net profit was $3 million, a drop year-on-year.
Additionally, GameFly is also in control of a network of gaming-related sites that bring in about 4.4 million unique users per month.
The company says it will use the IPO money for future growth.