A Japanese messaging app called Line has filed for an initial public offering (IPO) valued at nearly US$10 billion.
For an app almost unknown outside Japan it’s an audacious move. However, messaging is there simply to suck you into Line’s mobile world, where the real profits are made. Unlike its rivals, it is already making good money, and its potential is obvious.
Last year, Line was the world’s highest grossing mobile app aside from games such as Candy Crush and Angry Birds. Considering its revenue comes almost entirely from Japan, this is an impressive achievement.
So what does Line do differently?