King Digital Entertainment PLC, an interactive entertainment company for mobile and the developer of the addictive Candy Crush game, announced its filing a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) of its ordinary shares.
Top-selling game Candy Crush which King launched in 2012 is about lining up small pieces of colorful sweets and making them disappear from the screen. People can play the game online, on Facebook and on their smartphones.
Millions of people young and old play the game to test their skills. The game is free but one can buy in-app extras to aid them get up to higher levels (there are more than 500). Candy Crush records about 700 million sessions daily.
Game Revenue Revealed
One thing revealed during this filing is the 2013 revenue of Candy Crush which amounted to $1.5 billion, a figure which the Flappy Bird creator potentially gave up when he took the game from Google Play and App Store.
Candy Crush generated $1.88 billion along with $1.98 in gross bookings which they call the total paid amount by users for skill tournament access and virtual items. King said that 78 per cent of this came from Candy Crush alone, which means about $1.54 billion for last year's gross bookings.
Watching IPO filings can be interesting as most would get their target valuation, or even exceed them. However, it could fall down suddenly with a short burst of fame. The Candy Crush owner plans to list the ordinary shares on NYSE under "KING".
It was not long when King's company was in the news concerning a copyright filing for using the words "Candy" and "Saga". There has always been a move against a firm when it comes to taking or cloning the games of others before publishing them.
King Digital holds offices in San Francisco and Malta as well as six creative studios in Europe. It claims having 324 million monthly users for 180 games that come in 14 languages an available through King.com site. However, there are mobile versions of their games run by Amazon, Apple, Facebook and Google.