(NewsNation) — Remember the “Baby Shark” phenomenon that swept the entire world? Well, the company that published the song is now worth hundreds of millions.

Pinkfong, which debuted on the South Korean stock market last week, watched its shares rise more than 9%, establishing a valuation of more than $400 million.

“We didn’t expect it to stand out from our other content,” Mr Kim, Pinkfong’s chief executive, said of “Baby Shark.”

Pinkfong was founded in 2010 as SmartStudy, and was a firm that made digital content for children up to 12 years of age. At the time, there were only three employees, including Kim and the firm’s chief technology officer, Dongwoo Son.

Pinkfong endured several major overhauls before “Baby Shark,” including shifting its focus to toddlers. Over time, the company grew to around 100 employees. It now has around 340 employees.

“Looking back, it (Baby Shark) became a major turning point that set the stage for our global journey,” Kim added.

“Baby Shark” clocked up more than 16 billion views, and still holds the record for the most-watched video ever on YouTube.