While popular video game Flappy Bird has flown into oblivion with the Vietnamese developer pulling it out of the market because of its being addictive, the other addicting online matching puzzle game Candy Crush is crashing into new territory - the bourses.
Re/Code reported that King Digital Entertainment, the British company behind Candy Crush, will go list through an initial public offering on the New York Stock Exchange. The firm will use the ticker symbol "KING."
The game was released in mid-2012 and since then has logged 1.2 billion daily plays from 128 million daily active users. About 73 per cent of its users play it on mobile devices.
But despite the high rate of usage, King's revenue went down between the third and fourth quarters of 2013, but the firms still logged a profit gain of $269 million in Q4 2013, a big jump from its $1 million profit loss in Q1 2012.
King pioneered in the use of freemium apps where gamers are given limited number of tries to complete a level. Players can wait for a few minutes before trying again if they fail or seek help from friends or pay money for more attempts.
According to its filing on Tuesday, King reported an average of 21 million unique users in Q4 paid for in-game items, which represents 4 per cent of total monthly unique users for that quarter. They paid an average of $17 a month in that quarter.
Meanwhile, another tech company with a bird as its symbol had its wings clipped, insofar as its stocks are concerned. Users of microblogging site Twitter also tapered off toward the end of 2013 as the company registered a $551 million loss.
However, if the onetime stock cost due to its IPO is excluded, Twitter made $10 million profit, which is negligible in comparison to its stock market valuation of about $27 billion.
Given the current level of profit generation, Newsweek estimated it would take Twitter 700 years to pay back investors from its earnings.
In comparison, Google reported 2013 earnings of $13 billion and a market capitalisation of $390 billion, which means it would take the search engine giant 30 years to pay back investors via its earnings.
The average payback rate is 10 years. Top brand ExxonMobil would take 12 years to pay back its investors from its earnings.