, Columnist
Line's an IPO Without Peers
The only publicly traded chat app got an early thumbs up.
This article is for subscribers only.
When Line makes its debut on the Tokyo and New York markets this week, it will be the only publicly traded chat app. That's a lonely position for a social-networking company.
Since its business model extends well beyond ads and into games and stickers, sizing it up against advertising-driven companies such as Twitter, Google and Facebook doesn't quite work. Unlike the big three social-networking players, Line gets only 35 percent of its revenue from ads. The bulk of sales comes from a combination of content (games and music -- 35 percent), and communications (stickers and themes -- 22 percent).