Feeds

App-maker King hopes to CANDY-CRUSH $500m from IPO

You know what else is addictive? COLD HARD CASH

Security for virtualized datacentres

Candy Crush Saga-maker King Digital Entertainment has filed for an initial public offering on the New York Stock Exchange, which it hopes will raise $500m for the firm.

The Swedish firm had filed confidentially for its market debut with the Securities and Exchange Commission (SEC) in the US back in September under the relatively new Jumpstart Our Business Startups (JOBS) Act, which allows companies to keep their IPO plans under wraps for a while.

The game developer said it plans to list its shares on the NYSE under the ticker "KING", but the number of shares it's going to flog and the price range have not been settled on yet. Its initial filing says the firm plans to raise around $500m for the purpose of calculating registration fees, although the final size of the offering could be different.

King claims to have 324 million monthly unique users hooked on the likes of Candy Crush Saga and Bubble Witch Saga, games available on mobiles through the App and Play Stores and online via Facebook. The company said it offers more than 180 games in 14 different languages.

The games use the freemium model to make money, where the app can be downloaded for free, but players make in-app purchases for extra lives or play boosters.

King's top executives stand to make a tidy bundle in a successful IPO. Chief exec Riccardo Zacconi owns 10.4 per cent of the stock; chief creative officer John Knutsson and chief operating officer Stephane Kurgan hold 5.9 per cent and 2.5 per cent respectively; and the chairman of the board, Melvyn Morris, has a 12.2 per cent share. ®

Choosing a cloud hosting partner with confidence

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
Radio hams can encrypt, in emergencies, says Ofcom
Consultation promises new spectrum and hints at relaxed licence conditions
Big Content Australia just blew a big hole in its credibility
AHEDA's research on average content prices did not expose methodology, so appears less than rigourous
Special pleading against mass surveillance won't help anyone
Protecting journalists alone won't protect their sources
Bono: Apple will sort out monetising music where the labels failed
Remastered so hard it would be difficult or impossible to master it again
prev story

Whitepapers

Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
The next step in data security
With recent increased privacy concerns and computers becoming more powerful, the chance of hackers being able to crack smaller-sized RSA keys increases.