Report: Candy Crush Saga developer King files for IPO
Candy Crush Saga developer King has filed “S-1” documents associated with an initial public offering (IPO) with the Securities and Exchange Commission in the US. As reported by The Telegraph, the IPO is expected to value the massive social and casual game developer at more than $5 billion.
King was in talks with J.P. Morgan Chase & Co., Credit Suisse Group and Bank of America concerning a potential IPO back in June, following the first rumors of a King IPO last year. In June, the game developer had almost 25 million daily active users across its games on Facebook, including Pet Rescue Saga and Farm Heroes Saga. According to AppData, King’s numbers have now skyrocketed to over 82 million DAU (and 249 million monthly active users) across the developer’s Facebook titles alone. Its Candy Crush Saga is currently the No. 1 game on the entire platform.
Earlier this year, King announced it was abandoning traditional advertising in its mobile games due to the financial success of in-game purchases across those mobile titles, and the company’s ability to turn free-to-play players into paying consumers.
King’s move towards an IPO comes after the developer raced past Zynga as the top overall Facebook game developer back in July. King hasn’t slowed down since, but Zynga’s numbers have greatly decreased, now sitting at 115 million monthly active players on Facebook.
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