To the contrary, the catchy tune about a family of sharks has become so lucrative that the Korean family behind it is now sitting on a rapidly growing multimillion-dollar fortune. Kim Min-seok co-founded closely-held SmartStudy Co. in 2010, and five years later, its children’s educational brand, Pinkfong, released “Baby Shark.” His father runs Samsung Publishing Co., which also owns part of the startup. The Kim family owns 63 per cent of Samsung Publishing, which in turn owns 21 per cent of SmartStudy. The app-to-video maker’s early days were tough, but eventually grew faster as the Baby Shark video became a sensation, chief financial officer Seungkyu Lee said in a January interview. There’s also a concert experience for children, Baby Shark Live!

Source: New Strait Times November 02, 2019 11:26 UTC