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After working at gaming companies including Nexon and developing content for kids at Samsung Publishing, he co-founded SmartStudy to focus on the growing market for educational content for smartphones. Kim, 38, hardly set out to write a hit global song. Kim also directly owns a 23% stake in the startup, which Bloomberg valued by comparing it to four publicly traded peers. The Kim family owns 63% of Samsung Publishing, which in turn owns 21% of SmartStudy. They rode the wave all the way to the championship. Nationals outfielder Gerardo Parra began using it as his walk-up music, leading to crowd singalongs with shark-jaw gestures, scenes that echoed across TVs as the team broke out of an early season slump.
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Shares of Samsung Publishing soared 89% the week the World Series began as local media reported on the song’s surging popularity among U.S. SmartStudy declined to comment on the family’s wealth. The family fortune, based on stakes held by Kim’s immediate relatives in those two companies, is now about $125 million - much of it thanks to the song. 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. Kim Min-seok co-founded closely held SmartStudy Co. 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.