Report: Candy Crush Developer King Files For US IPO With $5 Billion Valuation
Posted on September 29, 2013 at 3:23 pm
When you’ve got the head Facebook application by a margin of 40 million daily active users, you should be doing something right. King.com’s Candy Crush Saga has rocketed the united kingdom company to success, and now the developer is asking to make good on American soil. Oh, and a higher game down at the list may be made by King.
According to Appdata.com, Candy Crush Saga pulls in 50 million active users per day. That’s just the Facebook version, and doesn’t account for the iOS, Android, or native iteration found on King’s own website.
On the full, King’s daily active users are over 72 million when compared with Zynga’s 10 million. In July, Think Gaming estimated revenue from Candy Crush Saga at over $600,000 per day. Today that estimate is greater than $850,000.
According to British newspaper, The Telegraph, King has filed for an initial public offering (IPO) with america Securities Exchange Commission (SEC) that values the corporate at over $5 billion. King was founded in 2003 and has kept its finances within the black for the past eight years.
King has supplanted Zynga because the pre-eminent social gaming powerhouse, with the latter suffering an exodus of talent. Zynga’s finances were suffering, and previous Xbox executive Don Mattrick was brought about to get the firm back on course.
[Source: The Telegraph, Appdata, Think Gaming]
Our Take
King and Zynga might appear to be similar companies with similar products, but only 1 of these is right. While the games are simple and depend on free-to-play’s coveted “whales” (a small group of people who spend big money), King has managed a protracted period of success.
I’ve played Candy Crush Saga and that i don’t understand the appeal, but 50 million people day-to-day, representing over $850,000 see something i do not. King has found a gap and exploited it better than Zynga has. Whether or not they keep growing after the IPO or flame out like Zynga is another matter entirely, though.
Posted in Games