Candy Crush Saga’s King Files for IPO

Just late last month, Candy Crush Saga developer, King, has trademarked the word ‘Candy’ when it comes to games and clothing.

Candy Crush Saga's King Files for IPO
Now, King has filed for an IPO in the New York Stock Exchange as King Digital Entertainment, using the ticker symbol ‘KING’.

The IPO filing has revealed that King’s 2013 revenues reached $1.88bn with net profit reaching $567.6m. Of note, that is up a huge amount from 2012’s $164.4m revenue and $7.8m profit.

King’s games bring in an average of 128m daily active users, 93m of whom are playing Candy Crush Saga. Monthly active users averaged 408m in the last quarter of the year.

Despite the fact that as of last September, 70% of its players who had reached the game’s final level had not spent a dime, Candy Crush currently accounts for 78% of King’s player spend.

The IPO filing stated,

“The opportunity in front of us is exciting: mobile usage is exploding and games are commanding the lion’s share of time spent. Going public creates a liquid market for our current and future employees and equity holders and will give us greater flexibility to act on strategic opportunities if they arise in the future.”

What do you think of Candy Crush Saga? Do you play it often?

Source: The Wall Street Journal