You may be familiar with mobile games publisher King Digital Entertainment for a few reasons, most of which have to do with its wildly popular match three game, Candy Crush Saga. Since it was first released back in April 2012, the game has seemingly been played by everyone as each player tries to make it further in the game to claim a new personal best. It’s not surprising, then, that in the wake of this success, King has filed for its initial public offering.
Meanwhile, Candy Crush Saga’s publisher, Midasplayer International Holding Co., also filed for its IPO last year, so again, it’s not surprising that King has chosen to do so as well.
King is pursuing at least $500 million in financing and a valuation in the billions, which seems to be the trend for mobile-centric companies these days. However, while most start-ups are merely labelled as overly ambitious, King can back it up as it brought in $1.9 billion in revenue last year, 80 percent of which came from Candy Crush. Compared to $164 million in revenue the year prior, it’s safe to say that King is in a strong position going into its IPO.
image via informatblog
Of course, it’s possible that Candy Crush’s success will wind down going forward, but there’s a good reason the game currently holds the second highest grossing spot on the Apple App Store: fresh content. The game consistently updates and revises user game play, always keeping it interesting for users. King has proven that it is capable of keeping players’ interest in this way.
That said, it would help if the company had another hit on its hands. To date, King has released dozens of games, but none have come close to matching Candy Crush’s success. To put it in perspective, Candy Crush boasts 93 million players per day, while King’s second-most popular title, Pet Rescue Saga, brings in 15 million users per day.
In other words, it’s possible King won’t get the valuation it wants, but it’s just as likely that it will still find success as a public company.
Edited by Ryan Sartor