Popular gaming accessory maker Razer has filed initial paperwork to go public in Hong Kong. According to TechCrunch, Razer is seeking to raise more than $600 million through its initial public offering (IPO). Earlier this year, Bloomberg reported that Razer was considering a lower figure, around $400 million.
The initial filing gives us a look at some of Razer's recent financials. In 2014, the company made a profit of $20.3 million, but those fortunes turned around with a $20 million loss the next year. More recently, the filings show, Razer notes a $59.6 million loss in 2016.
With the money raised through its IPO, Razer says it plans to expand its research and development efforts, finance new acquisitions and develop new verticals. Part of that includes a potential entry in the mobile device segment, which follows Razer's acquisition of mobile phone maker Nextbit earlier in 2017.
Hmm... Their products used to be decent years ago but have certainly lost their polish (hoping that the term 'gaming' excuses garbage quality). Sad.
Ugh. It sucks that they're losing money, but going to Asia for an IPO will likely cut them off from selling to high security US Tech, Mil and Gov buyers who can't buy products from those types of vendors after huawei and ztc backdoored a bunch of hardware.
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