King Digital Entertainment Creators Behind Candy Crush File For IPO.
King Digital Entertainment, the company who is behind the creation of famous app game known as “Candy Crush Saga” , has recently announced that they will be going public and has filed for an IPO.
The mobile game company has is will know for not only there “Candy Crush Saga” game but also lesser known titles such a “Pet Rescue Saga” and Bubble Witch Saga”, has not disclosed how many shares it has planned to offer in the IPO or a price range for a piece of the stock. The paper for the IPO was filed sometime in Tuesday, with the Securities and Exchange Commission, The company goal is to raise up to $500 million worth in offerings. Currently this amount could changed sometime during the week as the company and the IPO’s are still being gauged by the bank investors and there demands.
Candy Crush has been one of their most successful free application to ever be created, with having them most downloaded app on both iPhones and iPads during 2013, successfully beating Google Maps, Youtube And Facebook. With the games success, they manage to undertake Zynga Inc, Creators behind Mafia Wars and Farmville, As Number one produced games played on Facebook social network.
Zynga was also once the top dog of online gaming. Around 2011, the company had decide to go public while still riding on the success and built up popularity of its highly addictive game, FarmVille. While King Digital Entertainment has been around since 2002, they have only recently deiced to go public thanks to recent success created by Candy Crush. Of course most analysts believe it’s completely unfair to compare the two companies between each other.
“They have been around longer and are much larger,” said John Fitzgibbon, the founder of IPOScoop.com. “Why go public? Because they can.”
King has been around five years longer than the San Francisco based Zynga, and with its in-app purchasing people make while playing Candy Crush, it thanks to this system that has allowed them to generate great amounts of revenue. The game has made them over $1.88 billion in 2013, that more than 10 times its previous 2012 revenue of $164 million. Zynga’s revenue was quite low in 2013, with only $873.3 million, far below from its $1.28 billion in 2012.