THEBLACKLABEL, the leisure firm behind main tracks together with “Golden,” featured in “KPop Demon Hunters,” is looking for as much as 100 billion received (roughly $67.91 million) in new funding from recreation developer Krafton.
In accordance with funding banking sources on Jan. 12, Krafton, the creator of “PUBG: Battlegrounds,” is about to take part in THEBLACKLABEL’s Collection B funding spherical. Krafton is contemplating each a co-investment and a sole funding, with whole funding anticipated to achieve as much as 100 billion received. Upon completion of the deal, THEBLACKLABEL is projected to be valued at greater than 900 billion received and doubtlessly as excessive as 1 trillion received on a post-money foundation. The transaction is being carried out via a enterprise fund shaped by current investor Saehan Enterprise Capital.
Led by Government Producer Teddy Park, THEBLACKLABEL has gained vital momentum after its in-house producers, together with Vince and EJAE, created tracks reminiscent of “Golden,” “Soda Pop,” and “Your Idol” for KPop Demon Hunters. On the 83rd Golden Globe Awards, “Golden” received the Finest Unique Track award, putting Teddy and affiliated composers among the many winners. Teddy, a veteran Ok-pop producer behind quite a few hits for Massive Bang and Blackpink, at present represents artists together with Taeyang, Rosé, and actor Park Bo-gum.
Krafton has been actively increasing past gaming because it positions itself as a complete content material firm. The funding in THEBLACKLABEL is extensively seen as a part of a method to safe aggressive mental property and combine it with Krafton’s gaming enterprise. The transfer follows Krafton’s acquisition of a 100% stake within the mum or dad firm of Japanese promoting big ADK Group for 75 billion yen ($530 million) final 12 months, in addition to its choice to lift its stake within the promoting platform Neptune from 3.16% to 42.53% via a 165 billion received funding.
