The folks behind Candy Crush Saga think their company is big enough to go public
Heard of game development studio King? No, right? You're forgiven, as most folks don't know the name of the studio behind one of the world's most popular games right now: Candy Crush Saga. Sure, it might just be Bejeweled with free-to-play mechanisms built in, but over 93 million people played it last month. Yes, really.
And with those kinds of numbers, King apparently believes it's large enough to go public -- the company today filed for its initial public offering (IPO) with the United States Securities and Exchange Commission. Unexciting financial jargon aside, this means that King's hoping to raise a ton of cash (it's unclear how much) by offering stock to prospective investors; The New York Times is saying King "is expected to seek a multibillion-dollar valuation".
If all of this sounds awfully familiar, that's because FarmVille-maker Zynga pulled the same move just over two years ago -- the story hasn't been as positive in the following years. Like Zynga, King is largely dependent on a single game for its enormous userbase (the 93 million who played Candy Crush Saga in December are pulled from an overall pool of 128 milllion -- over 70 percent of King's entire consumer base). Of course, only time will tell if King will ascend from one-hit wonder, like the Zynga example, to mega-franchise purveyor, a la Rovio with Angry Birds.
