HYBE (formerly Big Hit Entertainment) is a Seoul, Korea based music company that is home to global K-pop superstars, BTS.
The company was founded in 2005 by Bang Si-hyuk, who continues to run the business today.
Big Hit’s subsidiaries – known as Big Hit Labels – include Source Music, Pledis Entertainment, Belift Lab and KOZ Entertainment.
Public flotation
Big Hit floated on the Korean Stock Exchange on October 15, 2020.
The company’s shares opened at 270,000 South Korea Won (approximately $235) – double its initial public offering price of 135,000 South Korea Won ($117) per share.
That share price peaked at 351,000 South Korea won ($305) on October, but closed its first day of trading at 258,000 South Korea won ($225).
Big Hit Entertainment’s total valuation at the close of day-one trading was 8.7 trillion South Korea won ($7.6 billion).
That made Big Hit founder and CEO Bang Si-hyuk’s 36.6% stake in the company worth 3.14 trillion South Korea won (approximately USD $2.8bn).
In March 2021, Big Hit announced it was changing its corporate name to HYBE.Music Business Worldwide