Japanese messaging app LINE, has decided against an initial public offering (IPO) this year, reports Bloomberg. The company said it had considered an IPO for its overseas growth strategy, but the messaging service has grown fast enough since, for it to decide against it. The South Korea based Naver Corp owned company had previously filed for an initial public offering (IPO) at the Tokyo Stock Exchange in July this year, with an initial valuation of $10 billion. Nomura Holdings Inc. and Morgan Stanley had been appointed to manage the Tokyo IPO while the company also considered the possibility of an IPO in the United States, by publicly listing on the NYSE or NASDAQ as well. The LINE app is currently available for free across various operating systems like Android, iOS, Windows Phone, Mac and Windows etc. Similar to other messaging apps, it allows users to send message and make voice calls over an active internet connection. It also features a ‘Home’ and ‘Timeline’ section which allow users to share moments and browse through their friend’s moments, similar to some of its competitors features. Line, had started focusing on the Indian market in July last year and had appointed Damandeep Singh Soni as the head of its India Business Development early this year. The app takes an ecosystem approach in India as a differentiator from the other messaging apps in the country. Earlier in February, it had partnered with Groupon India to provide daily deals through an official ‘Groupon Freebies’ account…
