Feeds

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

You know what else is addictive? COLD HARD CASH

Build a business case: developing custom apps

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. ®

Gartner critical capabilities for enterprise endpoint backup

More from The Register

next story
Video of US journalist 'beheading' pulled from social media
Yanked footage featured British-accented attacker and US journo James Foley
Kate Bush: Don't make me HAVE CONTACT with your iPHONE
Can't face sea of wobbling fondle implements. What happened to lighters, eh?
Caught red-handed: UK cops, PCSOs, specials behaving badly… on social media
No Mr Fuzz, don't ask a crime victim to be your pal on Facebook
Ballmer leaves Microsoft board to spend more time with his b-balls
From Clippy to Clippers: Hi, I see you're running an NBA team now ...
Amazon takes swipe at PayPal, Square with card reader for mobes
Etailer plans to undercut rivals with low transaction fee offer
Assange™: Hey world, I'M STILL HERE, ignore that Snowden guy
Press conference: ME ME ME ME ME ME ME (cont'd pg 94)
Call of Duty daddy considers launching own movie studio
Activision Blizzard might like quality control of a CoD film
US regulators OK sale of IBM's x86 server biz to Lenovo
Now all that remains is for gov't offices to ban the boxes
Linux Foundation says many Linux admins and engineers are certifiable
Floats exam program to help IT employers lock up talent
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Top 10 endpoint backup mistakes
Avoid the ten endpoint backup mistakes to ensure that your critical corporate data is protected and end user productivity is improved.
Top 8 considerations to enable and simplify mobility
In this whitepaper learn how to successfully add mobile capabilities simply and cost effectively.
Rethinking backup and recovery in the modern data center
Combining intelligence, operational analytics, and automation to enable efficient, data-driven IT organizations using the HP ABR approach.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.