King Digital Entertainment PLC, the company behind Candy Crush Saga, has filed with the Securities and Exchange Commission (SEC) to take the company public.
As of late King has been pretty well-known for chasing companies over trademarks, but that hasn't deterred its monster hit game Candy Crush Saga from still being a massive hit. In the filing for its IPO (Initial Public Offering) with the SEC today, the company revealed that 93 million unique players logged in to the addictive puzzle game last month. Overall King counts 128 million daily users across its various properties, but it is clear that the puzzle game that sees you lining up three or more sugary treats is its juggernaut success.
According the filing King is aiming to raise $500 million from the IPO, but it isn't to pay off debts, but instead would use the funds to make acquisitions. It is clear that there is real money being made by the company as the filing revealed $1.9 billion in revenue in 2013, with $567.6 in profits, up from a mere $7.8 million in 2012.
While King may be riding high on its success at the moment, investors will have to ponder if it can continue. Users will eventually tire of Candy Crush Saga and move on to other distractions. Case in point, Zynga went public in 2011 to much fanfare, but quickly discovered that investors became weary as FarmVille began to fall out of favor with its users and its profits rapidly declined, which in turn lead to many layoffs. And if you think King would have success by buying competitors, don't forget that Zynga tried to do the same by acquiring OMGPOP, the makers of Draw Something.
There is every chance that King may find success with its IPO, but history has shown that this can most assuredly work out in the negative. Only time will tell.
There is no target date as of yet for when King will go public, but you can probably expect it in the next few months.
The Galaxy S20 Ultra's Space Zoom camera is amazing and a bit creepy
The Galaxy S20 Ultra supports up to 100X zoom, which Samsung calls Space Zoom, but is it any good? Can a phone really product usable photos at 100x zoom? We've got our Galaxy S20 Ultra already so join us to find out!
Win an iPhone, iPad and Apple Watch with the Reader's Choice giveaway!
What's the best phone of 2019? Is it the iPhone 11 Pro, Pixel 4 or OnePlus 7T? What about the best laptop, games console, tablet and more? Vote NOW in the Reader's Choice awards and win BIG in time for the holidays!
Here are the best products from IFA 2019!
Here are the products announced at IFA 2019 that were worthy of our Best of IFA 2019 awards. Also featuring MrMobile's single best product at the show!
Get your doodle on with a high-tech drawing tablet
Aching to incorporate freehand lines into your digital creations? Sounds like you need a drawing tablet! We've put together the best models for your perusing pleasure.