Candy Crush Saga Developer Apparently Files For IPO

Even if you don’t play this insanely popular game on Facebook, you’ve probably heard about it or have received a request from one of your Facebook friends. Right now, Candy Crush Saga is the most popular game being played on the world’s largest social network. It logged 9.7 million daily active users back in January, breaking FarmVille 2’s record of 8.7 million daily active users. U.K. based King is the developer of this game, and according to The Telegraph, it has filed for an initial public offering in U.S.A. King is seeking to go public and raise a ton of money in the process.

Thought to be the biggest IPO by a U.K. based technology company in years, King is expected to go public on the Nasdaq exchange. King has reportedly submitted the required S-1 paperwork with the Securities and Exchange Commission confidentially, which small companies are allowed to do under the JOBS Act. Twitter took the same route with its pre-IPO filing. The developer has reportedly held discussions with Bank of America, JP Morgan and Credit Suisse to lead the IPO. It will have a tough time convincing investors that it won’t go the way of Zynga, which has not only lost users, but has also lost revenue. Currently it has a market capitalization of $2.9 billion. As per the confidential filing, King is valued at $5 billion. No date or offer price is available at this point in time.

Adnan Farooqui
Categories: Gaming
Tags: Candy Crush Saga, Facebook, zynga