GameFly going public, files $50 million IPO

GameFly has filed a $50 million initial public offering with the SEC and has applied to appear as “GFLY” on the NASDAQ ticker.

GameFly has approximately 334,000 subscribers as of September 2009 and generated $84.7 milllion in revenue in its fiscal year ending March 2009.

GameFly’s collection of media sites, which includes ShackNews,Shack Video, File Shak, and cheatfreak apparently draws 4.4 million monthly unique visitors.