Menu visibility control
Channels

Latest

Popular

Events

King.com prepares for IPO

King.com's Candy Crush Saga
twitterlinkedinfacebookgoogle_plustwitterlinkedinfacebookgoogle_plus

Social gaming company King.com is preparing for an IPO, according to reports

King.com, the maker of Candy Crush Saga and other popular games, is said to have hired JP Morgan Chase & Co, Credit Suisse and Bank of America to help it prepare for a listing.

The reports, first published by Bloomberg News and The Wall Street Journal, citing new unnamed sources, also claim that the London-based games developer hasn’t yet made a decision on how big or when the share sale will take place.

The Zynga problem

King.com is the trading name for Midasplayer International Holding Co, which boasts more than 70 million users playing Candy Crush Saga and other titles (including Pet Rescue Saga and Farm Heroes Saga) across a range of platforms – this makes it a bigger player than Zynga, which is said to have 52 million daily active users.

On its own, Candy Crush Saga attracts more than 45 million users, according to app usage statistic tracker AppData, making it the most popular game played on Facebook. The game also generates up to $2.4m in sales every day, according to reports on the Pocket Gamer website.

Although Riccardo Zacconi, King.com’s CEO, has already discussed a possible IPO in the past, the company has not confirmed the latest reports about the company going public.

One thing is certain: should King.com’s IPO happen, comparisons with gaming rival Zynga will be rife. Since Zynga went public in December 2011, shares have tanked by 70 per cent.

Lewis Ward, analyst at IDC, says that there are parallels between the two games makers. “Both companies were fairly dependent on a hit product. King has taken a better approach of monetizing Candy Crush, and it has avoided the buying spree that Zynga undertook after it went public. The key is how well positioned King is on mobile.”

twitterlinkedinfacebookgoogle_plustwitterlinkedinfacebookgoogle_plus

Editor's picks

Silver bullet

The EU and US data transfer agreement: perhaps a shield, but no silver bullet
posted 11 hours ago

Question

5 questions to ask before selecting a startup assistance programme
posted on February 6, 2016

4H5A6171

Over $20m UK investments, Microsoft acquires Swiftkey, new Safe Harbour deal & more in your week in tech
posted on February 5, 2016

TCN_25Nov_Awards

Apply now for the Tech City News Elevator Pitch 2016 Competition
posted on February 4, 2016

Cannes

Unilever opens application process for Foundry 50 programme
posted on February 4, 2016

money

British startup Revolut closes $4.8m Seed round
posted on February 4, 2016