Comment on Unsatisfied with Valuation, Chinese Mobile Gaming Company Chukong to Postpone IPO by Mobile Game Publisher iDreamSky Files For Nasdaq IPO to Raise Up to US$115M | Kungpao.tv

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Chinese mobile gaming company Chukong has decided to postpone its US IPO, as Chen Haozhi, CEO and co-founder of the company, disclosed in an internal email yesterday. Chen disclosed in the mail that Amazon offered to buy their mobile gaming engines for $600 million one year ago. But total profits generated by Chukong is lower than investors expect for a gaming company. That’s because, according to the company, Chukong has been investing heavily into its game engine development and building the platform. Some don’t believe the Chukong mobile content platform and gaming engines will be so scalable as it sounds.