AfterDawn: News

GameFly files IPO, now publicly traded company

The video game rental service GameFly has filed an IPO today, becoming a publicly traded company and raising $50 million USD. The company will trade on the NASDAQ under the ticker GFLY.

The company has 334,000 subscribers and had revenue of $46.4 million for the six months ended September 30th, 2009. Net profit was $3 million, a drop year-on-year.



Additionally, GameFly is also in control of a network of gaming-related sites that bring in about 4.4 million unique users per month.

The company says it will use the IPO money for future growth.

Written by: Andre Yoskowitz @ 11 Feb 2010 16:39

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• 3 comments

• Se7ven

  Maybe now they can reduce their turn around time,and buy enough new copies to go around of a really hyped release.

  12.2.2010 18:20 #1

• Gnawnivek

  Yeah, i canceled the service because i hardly ever get the games on the top of the queue. The games have used price of $15, i get them w/o problems. Of course, then again, i can just buy the game for $15 and don't have to worry about returning it, lol.
  
  I hope the service gets better, i might join it again if that's the case.

  19.2.2010 16:02 #2

• Se7ven

  That is the main reason i left game fly both time i was a member.i would never ever get the games at the top of my queue.and i would have them up weeks before their release.
  

  todd logan

  19.2.2010 19:56 #3