Candy Crush Saga IPO: Game maker King may enter the US stock market, reports sayBy Angel Cuala on Jun 21, 2013 in Business, Stock Market •
Are we expecting a Candy Crush Saga IPO soon? This is what appears to be, after a report at Wall Street Journal said that people familiar with issue told them that Midasplayer International Holding Co., also known as King, maker of famous game Candy Crush Saga is allegedly planning for an initial public offering (IPO).
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According to WSJ this Tuesday, June 18, 2013, Midasplayer is tapping notable banks such as Credit Suisse Group AG, Bank of America Corporation, and J.P. Morgan Chase & Co. for their potential entrance in the US stock market. No pricing and further details were mentioned though.
“King‘s success and growth presents numerous opportunities for the business to develop further, and one option would be to take the company public. However, while it’s an option for the future, we would not comment on when we could consider making such a decision.” A company spokesman told the paper.
Apparently, Bloomberg reported this Thursday the similar issue, also mentioning the earlier report on Wall Street Journal. Two people knowledgeable with the matter reportedly told them that Midasplayer has already hired the three banks, in preparation for IPO. Timing and pricing were not also revealed.
Candy Crush Saga was released on April 12, 2012, and was originally for Facebook. It was made available in Android and iOS smartphones last November 14. According to AppData, it is now the most famous video game in Facebook, with more than 45 million users, surpassing Zynga‘s Farmville 2.
Candy Crush Saga was the most downloaded game in the Apple App Store and Google Play Store in March and April. Its official Facebook fan page has 32.2 million Likes, as of this writing. This London-based “match-three” video game has reportedly taken over Rovio‘s Angry Birds since May this year.
Last October, Zynga was reported to be closing some studios in UK, Japan, as well as in Boston, Massachusetts, and Austin, Texas. The online gaming giant went public in 2011, but didn’t fare all that well.
Early this month, Zynga is reportedly to lay off 18 percent of its workforce, or 520 employees, which is expected to be completed this August. With this, King.com seemed to be still hesitant with their aim to enter IPO.
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