Corsair aims to raise $100 million with IPO
Why it matters: Gaming hardware and accessory maker Corsair Gaming is going public. The company recently filed the necessary paperwork with the US Securities and Exchange Commission for an initial public offering (IPO) with a target price of $100 million. Corsair aims to trade on the Nasdaq under the ticker symbol “CRSR.”
Corsair said that since 1998, they have shipped more than 190 million gaming products, with 85 million shipments having occurred just in the past five years. The company largely established itself during the 2000s as a major supplier of PC gaming hardware and accessories, going head to head with other well-known brands of the era such as OCZ Technology.
In 2019, the company raked in an impressive $1.09 billion in net revenue. Per The NPD Group, Corsair’s US market share sits at nearly 42 percent with it leading the way in terms of US market share in the categories of computer cases, high-performance memory, power supplies and cooling solutions.
Today, Corsair sells its products to consumers in over 75 countries worldwide, both online and at brick-and-mortar retailers. Collectively, their products have garnered more than 4,000 product awards from websites and magazines.
Corsair has also jumped into some new markets as of late thanks to acquisitions of livestreaming specialist Elgato Gaming and boutique computer builder Origin PC.
Image credit: WDphotography, l2pTink3r