In a new report, California tech company Razer will be seeking a Hong Kong initial public offering which could value their company at around $5 billion.
Throughout the gaming scene, Razer has elevated themselves to new heights with multiple different products being produced for a variety of needs.
Keyboards, mouses, laptops, and headsets are just a few of the popular items for sale by the company, amassing large sponsorship deals across the industry.
According to IBT
, Razer plans on potentially developing its own brand of smartphone in the near future, with the IPO being a stepping stone for the first stages of the endeavor.
The process would start in Hong Kong, where it then would move to China, where the gaming industry as a whole is estimated to be worth $25 billion.
In 2015 alone, the company reportedly gained
over $319.7 million in revenue, with over $392.1 million in 2016, making it a prime candidate for the public offering.
As the global gaming industry is estimated to be worth $146 billion in 2020, the market for products has seen great increase in the previous years. In the same timeframe, the Asia Pacific market is expected to grow by $65.3 billion, with software expansion expected to rise by 40 percent, and hardware growth by 22 percent.
With more and more people becoming acclimated to the gaming and esports industry, companies will be more willing to take risks in order to stay ahead of the curve.