How 'Baby Shark' Drove Pinkfong to the Stock Market

“Baby Shark Dance” became a global earworm almost a decade ago, but the viral jingle — which has racked up more than 16 billion views on YouTube — still ranks among the internet’s most recognizable pieces of children’s entertainment.

Riding that unprecedented success, creator Pinkfong Co. is debuting on South Korea’s small-cap Kosdaq market on Nov. 18, aiming to expand beyond toddlers’ screens and prove it can be a full-fledged media company capable of producing the next breakout hit. Investors who snapped up the firm’s 76 billion won ($53 million) initial public offering are also betting that Pinkfong can recreate the Baby Shark magic.

The multimillionaire family behind Pinkfong is also set to see its fortunes increase with the listing, having already reaped huge rewards from the catchy tune about a family of sharks.

Read more: ‘Baby Shark’ Creator Prices South Korea IPO at Top of Range

What is Pinkfong?

Pinkfong — formerly known as SmartStudy — is a Seoul-based children’s content studio known for its short, catchy songs and videos for preschoolers that can be watched on YouTube, streaming platforms, TV and mobile apps.

Inspired by the success of their 2016 “Baby Shark Dance” song, the company expanded its ambitions, developing new characters and evolving into a full-fledged intellectual property studio. This transition led to multilingual production in 25 languages and the creation of new franchises — part of the company’s efforts to reduce reliance on any single viral hit. Its portfolio includes the Pinkfong fox character, Baby Shark, Bebefinn and Sealook. The company’s aim is to create “snackable” songs and videos that scale online and can be monetized through advertising, streaming royalties, licensing, and merchandise — as well as live shows, games, and longer-form content.

By the numbers, Pinkfong has amassed more than 280 million subscribers across its YouTube channels, anchored by “Baby Shark Dance”. The Bebefinn franchise, however, has now overtaken Baby Shark in terms of content revenue, according to Pinkfong’s Chief Executive Officer Kim Min-seok.

Who’s behind Pinkfong?

The company was founded in 2010 by Kim Min-seok and Son Dongwoo, its chief technology officer — both veterans of South Korea’s gaming and IT industries. Early investment and distribution partnerships were secured through Samsung Publishing Co, which is run by Kim’s father. Samsung Publishing held a 16.8% stake in Pinkfong before the IPO.

The family fortune — based on stakes held by Kim, his uncle Kim Chang-soo, and other immediate relatives in the two companies — is now estimated to be about 246 billion won ($169 million) at the IPO price, according to Bloomberg calculations, much of it thanks to the “Baby Shark Dance” song. Kim’s own wealth is estimated at about 97.3 billion won ($66.4 million), reflecting his 18% stake in Pinkfong before the IPO and his holdings in Samsung Publishing.

Kim, 44, hardly set out to write a hit global song. After working at gaming companies including Nexon and developing content for kids at Samsung Publishing, he co-founded the company to focus on the growing market for educational content for smartphones.

What is Baby Shark Dance and how did it go viral?

“Baby Shark Dance” is a two-minute children’s song and video that was uploaded to YouTube in June 2016. The song itself isn’t new — it traces back to a century-old campfire chant — but Pinkfong’s version reimagined it with bright animation, simple English lyrics, and a K-pop-style hook that made it irresistible to toddlers and their parents alike.

The video features cartoon baby sharks and two children using hand gestures that mimic fins and jaws, set to the endlessly looping refrain “doo-doo-doo-doo-doo-doo.” That blend of repetition, choreography and cuteness proved to be algorithmic gold. Baby Shark first spread through Asia before exploding globally between 2017 and 2018, fueled by the #BabySharkChallenge on social media platforms, which invited kids, parents and even celebrities to record themselves dancing to the tune and share the videos online.

By 2020, the clip had surpassed “Despacito,” a Spanish pop hit, to become the most-viewed video in YouTube history. The Baby Shark phenomenon spawned toys, television spinoffs, a Nickelodeon series, live concerts, and even a feature film — transforming Pinkfong from a small Korean studio into a household name in children’s media.

But it hasn’t all been smooth sailing. In 2019, US composer Jonathan Wright sued Pinkfong, alleging its viral “Baby Shark Dance” song copied his 2011 version. Pinkfong argued the tune originated from a public-domain children’s chant. In August 2025, South Korea’s Supreme Court dismissed Wright’s claim, ruling his rendition wasn’t distinct enough for copyright protection and that Pinkfong’s version was an original reinterpretation — effectively clearing the company of infringement.

Why is Pinkfong listing on a stock exchange?

Pinkfong’s decision to list on the stock market marks a turning point in its evolution from a single-hit content studio into a diversified children’s entertainment brand capable of launching new characters, shows, and IP each year.

The company plans to use its IPO proceeds — along with the visibility that comes from going public — to develop new, patentable content, strengthen its artificial intelligence and 3D production capabilities, and expand its presence across key overseas markets, including North America, Japan, Europe, Central and South America, and Southeast Asia.

What’s next for Pinkfong?

Pinkfong’s listing comes amid a broader wave of Korean entertainment firms capitalizing on global popularity, such as Hybe Co. the powerhouse behind K-pop boy band BTS and Studio Dragon, a leader in premium drama production. For Pinkfong, the IPO represents more than a financial milestone; it’s a declaration that a viral nursery rhyme can mature into a sustainable, multiplatform media enterprise.

The public listing also gives Pinkfong a transparent valuation and provides a way to formalize its governance structure and attract longer-term investors as it seeks to build a more diversified revenue model.

Douglas Kim, an analyst at Douglas Research Advisory, expects the stock to climb by about 22% over the next 6 to 12 months to 46,369 won, saying his firm has a positive view of the company. Pinkfong is “one of the most sought-after acquisition candidates in the global animation industry,” he wrote in a report published on investment research platform Smartkarma on Sept. 29.

“Our top priority is to broaden our IP portfolio to create content that appeals to a wider demographic and reaches audiences in more countries,” chief executive officer and co-founder Kim told Bloomberg News in an interview. The company plans to create at least one new IP every year, and a detailed roadmap has been laid out through 2030, Kim added.