The viral children’s song Baby Shark has transformed its creator, Pinkfong, into a $400 million business following its successful stock market debut, highlighting the power of digital content in the modern economy.
Pinkfong, originally known as SmartStudy, began in 2010 as a small startup in Seoul with just three employees, including CEO Kim Min-seok, who recalls working in a tiny office without expecting regular salaries. The company focused on creating digital content for children up to age 12, but its trajectory changed unexpectedly in June 2016 with the upload of the Baby Shark video. This 90-second clip, approved without much fanfare, would soon become a global sensation, laying the foundation for an empire built on catchy tunes and simple animations.
The Baby Shark video, featuring a repetitive, chant-like melody and an easy-to-follow dance, slowly gained traction after being featured at children’s events in Southeast Asia. Videos of people dancing to it spread rapidly online, and by November 2020, it had amassed over 16 billion views, claiming the title of YouTube’s most-watched video. Kim describes the song as ‘like a K-pop song—fast-paced, rhythmical, and addictive,’ with its simplicity making it highly memorable for young audiences. The clip’s viral rise created a ‘festival-like’ atmosphere in the office as viewership numbers soared in real time.
On Tuesday, November 19, 2025, Pinkfong’s shares surged over 9% in their initial public offering on the South Korean stock market, valuing the company at more than $400 million. This IPO raised nearly $52 million, which the firm plans to invest in expanding its film projects and character franchises. Kim emphasized that the debut marks a significant milestone in Pinkfong’s global journey, with ambitions to become a ‘tech-driven’ content creator by leveraging viewing data and analytics to shape future offerings.
The Baby Shark phenomenon initially generated about half of Pinkfong’s revenue in the years following its release, though it now accounts for roughly a quarter of earnings. Other franchises, such as Bebefinn, have grown rapidly and contribute around 40% of revenue, demonstrating the company’s efforts to diversify beyond its flagship hit. This shift is crucial as Pinkfong aims to prove it is not a one-hit wonder and can sustain long-term growth through a broader portfolio of characters and content.
Pinkfong faced significant challenges, including a 2019 plagiarism lawsuit from an American composer who accused the company of copying the song. South Korea’s Supreme Court ultimately rejected the claim, ruling that Baby Shark was derived from a public-domain folk tune, a decision that provided a legal and morale boost ahead of the IPO. Kim noted that the stock market application had been filed before the verdict, but the favorable outcome reinforced investor confidence in the company’s intellectual property and integrity.
Today, Pinkfong has expanded to around 340 employees with offices in Tokyo, Shanghai, and Los Angeles, rebranding as The Pinkfong Company in 2022 after its cheerful pink fox character. Parental reactions to its content vary; some, like father Saleem Nashef, appreciate the educational elements, while others find Baby Shark over-stimulating for children. Despite this, the brand’s popularity endures, with fans celebrating it in events like Baby Shark-themed birthday parties, underscoring its cultural impact.
Looking ahead, Pinkfong must demonstrate its ability to replicate Baby Shark’s success with new intellectual property. Analysts like Min Jung Kim from Korea University highlight the advantage of targeting toddlers, who tend to watch content repeatedly, but stress that innovation is key to avoiding reliance on a single hit. By using IPO funds to develop tech-driven content and expand its character lineup, Pinkfong aims to secure its place as a lasting force in the global media landscape, proving that lightning can strike twice in the digital age.
