Feeds

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

You know what else is addictive? COLD HARD CASH

High performance access to file storage

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. ®

High performance access to file storage

More from The Register

next story
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
France bans managers from contacting workers outside business hours
«Email? Mais non ... il est plus tard que six heures du soir!»
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
HP ArcSight ESM solution helps Finansbank
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Mobile application security study
Download this report to see the alarming realities regarding the sheer number of applications vulnerable to attack, as well as the most common and easily addressable vulnerability errors.