Feeds

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

You know what else is addictive? COLD HARD CASH

The Essential Guide to IT Transformation

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. ®

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
Stick a 4K in them: Super high-res TVs are DONE
4,000 pixels is niche now... Don't say we didn't warn you
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.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
The Essential Guide to IT Transformation
ServiceNow discusses three IT transformations that can help CIO's automate IT services to transform IT and the enterprise.
Maximize storage efficiency across the enterprise
The HP StoreOnce backup solution offers highly flexible, centrally managed, and highly efficient data protection for any enterprise.