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Internet Japan

gree IPO

Japan’s second largest SNS, Gree, has IPOed, at 4800 yen for a total market cap of $1.2 billion with a b dollars (on annual profits of $10 million?!?!)

I have a gree account, have had one for a while.  I’m an AU user too (AU’s mobile SNS is gree.)  Maybe I’m blind but I just don’t see the $1 billion in value here.

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