The catchy kid’s song “Baby Shark” has helped make the family behind it many millions of dollars. SmartStudy Co., the company behind the infectious tune, was started in 2010 by Kim Min Seok, reports Bloomberg. But it wasn’t until it’s education brand Pinkfong released “Baby Shark” five years later it started raking in the cash. Now, the family behind it is worth $125 million thanks to their shares in the companies.
The song about a family of sharks has garnered over 3.8 billion views as of now. Anyone with a kid knows the sound of the song and it has become a worldwide sensation even appearing at this year’s World Series.
It’s also being developed into a television show at Nickelodeon.
The song has been an unbelievable and lucrative surprise for Kim Min Seok. The 38-year-old was originally a video game developer but quit working at game companies to start his own business. Kim started the South Korean startup with two other gaming employees. They focused on educational content for smartphones because it was a growing market.
Kim’s father runs Samsung Publishing Co which owns 21% of SmartStudy. The Kim family owns 63% of Samsung Publishing. Kim Min Seok personally owns 23% of SmartStudy. Bloomberg made the valuation on SmartStudy by comparing it to four other publicly traded companies.
According to SmartStudy’s CFO, SeungKyu Lee, the company made $34.3 million in revenue last year.