King, The Company Behind Candy Crush, Has Filed To Go Public
King, the company behind Candy Crush, has filed to go public according to the Wall Street Journal. King is reportedly working with Bank of America, J.P. Morgan Chase and Credit Suisse to go public. The pricing and timing of the IPO is not yet known.
Candy Crush launched on Facebook in April 2012 and went mobile shortly later. Candy Crush is seeing around 15.4 million average daily users, according to AppData. King has around 70 million daily players across all of their games including Candy Crush Saga, Pet Rescue Saga, and Farm Heroes Saga.
Seeing King go public is surprising because one of their largest rivals, Zynga, went public and has seen their stock price tanked over 70% since their 2011 IPO. Zynga ended up laying off hundreds of employees and shut down many offices. The primary difference between Zynga and King is that King has seen a lot of success shifting from Facebook to mobile. Candy Crush is one of the most downloaded apps on iOS and Android. Candy Crush is free, but the app makes money from in-app purchases.
Zynga’s user base dropped to 52 million daily active users for the three months ended March 31st, which is down from 65 million one year earlier.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry