Candy Crush Saga Getting Ready for IPO
The addictive Candy Crush Saga game has 45 million users and 32 million Facebook likes on its official page. Bloomberg reports on June 20 that the developer may be getting ready for an IPO, and has hired several banks. Candy Crush Saga is currently the most popular app on Facebook and has stayed at the top of the AppData leaderboard.
King, the developer that is also known as Midasplayer, has not officially announced its IPO plans to the public, but several reports indicate that banks are already involved and planning the offering. Since 2012, Candy Crush Saga has built a large audience of gamers, and 15 million of them play every day. The free game is available on smartphones, Facebook and Playberry, and it has become the most downloaded game for mobile devices.
There are some concerns about King’s potential IPO, but the company has been able to raise $50 million in the past and received investments from Apax Partners and others. Although Candy Crush Saga is free, the in-game purchases are quickly adding up to a steady revenue stream for the developer. MSN reports that King’s revenue is estimated to be $500 million. Candy Crush is not the only game on its list of available apps that contribute to the sum, but it is the most popular. The game appears to be designed to frustrate users into purchasing extra lives or moves.
Comparisons between Zynga and King are becoming more prevalent. The mobile game market can be fickle, but King seems to believe its IPO strategy will not lead it down the same path as Zynga.