‘Candy Crush Saga’ maker King files for $500 million IPO

“King Digital Entertainment PLC, the maker of the popular ‘Candy Crush Saga’ smartphone game, said Tuesday that it filed for an initial public offering of up to $500 million on the New York Stock Exchange,” Ben Fox Rubin, Telis Demos and Sven Grundberg report for The Wall Street Journal.

“The company said it hasn’t decided on the number of shares to be listed or the price range for the offering,” Rubin, Demos and Grundberg report. “King, a London-based company established in 2002, has risen to prominence amid the rapid rise of casual games for Apple Inc.’s iPhone and phones running Google’s Android operating system.”

Rubin, Demos and Grundberg report, “The latest filing shows the company has posted enormous growth in a few short years. In 2013, the company reported a profit of $567.6 million, up from $7.8 million in 2012. Revenue jumped to $1.88 billion, up from $164.4 million.”

Read more here.

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