Candy Crush To Go Public: King Digital Entertainment

Candy Crush Saga is popular throughout the world and King Digital Entertainment, the firm which made the game, is planning to go public by the end of March 2014. The IPO for the company will most likely be priced somewhere between $21 to $24 per share, according to a Yahoo! News report on Tuesday. Quite incredibly, on the high end of that price range, King Digital Entertainment is expected to raise $533 million – and valued at $7.6 billion.

Candy Crush’s maker’s revenue was elevated sharply last year, to almost $1.8 billion. That’s up from King Digital Entertainment’s $164 million the year before. That, of course, is due to the popularity of Candy Crush. Candy Crush was the most downloaded free app on iPad and iPhone last year – “crushing” the popularity of Facebook, Google Maps, and YouTube.

Candy Crush Saga was 78 percent of King Digital Entertainment’s revenue in the last quarter of 2013. Additionally, Candy Crush has 97 million average daily users as of last month.

Source : examiner