Peter Thiel Invests in PixelPlus

Korea Economic Daily reports that Peter Thiel, one of the legendary Silicon Valley investors and a former PayPal CEO, has acquired 3% stake in Korean image sensor maker PixelPlus. Reportedly, he paid 10 billion won (about $9.3M) , putting the company valuation at about 330 billion won, or $310M. Analysts expect the company value to jump to 500 billion won next year when it is to make IPO on the KOSDAQ. Pixelplus founder and president Lee Seo-gyu is said to own 24.4% stake in the company.

Pixelplus posted 149.4 billion won in sales revenue and 46.5 billion won in operating profit last year.