NIP plans NASDAQ IPO
NIP Group, the parent organization behind Ninjas in Pyjamas and eStar Gaming, have filed an initial public offering on the NASDAQ earlier this week, hoping to raise upwards of $5 million by selling shares to the public.
The group, which holds esports teams in Counter-Strike 2, League of Legends, Rainbow Six: Siege, and Honor of Kings, alongside an extensive talent management network, is raising public funds for the first time in its history.
NIP joins a long list of esports organizations with public stock offerings, such as FaZe Clan (which since been purchased by GameSquare, another public esports company), Astralis Group, and Enthusiast Gaming Holdings Inc. (who own Luminosity Gaming).
The public filing gives unprecedented insight into some of NIP Group's financials, required to be disclosed by law. For example, from 2022 to 2023, revenue for NIP Group grew from $65.8 million to $83.7 million. At the same time, however, net losses grew from $6.2 million to $13.3 million.
NIP plans to invest the funds procured from this public offering, in their esports teams, talent management and event production capabilities, and marketing the brand.
