'Candy' Crush Saga' maker King Digital plans IPO

AP Photo/Candy Crush

AP Photo/Candy Crush

The maker of the blockbuster mobile game “Candy Crush Saga” will attempt to raise as much as $500 million in an initial public offering.

King Digital Entertainment PLC, which also makes the game “Pet Rescue Saga,” did not disclose how many shares are expected to be in the IPO or the projected price range.

King has replaced Zynga Inc., which makes including “FarmVille” and “Mafia Wars,” as the No. 1 maker of games played on Facebook, largely due to the success of “Candy Crush Saga.” The game was the most downloaded free app on both iPhones and iPads in 2013, beating Facebook, Google Maps and YouTube.

There were 93 million users playing the game daily in December, according to the regulatory filing Tuesday. “Pet Rescue Saga” had 15 million.

King said in its filing that the IPO will include shares offered by the company as well as those offered by existing stockholders.

The Irish company plans to use proceeds from the sale for working capital and other general corporate purposes, which may include acquisitions. It won't receive any proceeds from shares offered by the selling stockholders.

In 2013, King reported a profit of $567.6 million. Its revenue, minus expenses, was $716 million. In the prior year, the company reported a profit of only $7.8 million and revenue of $11.1 million, less expenses.

The company plans to list the stock on the New York Stock Exchange under the “KING” ticker symbol.

businessCandy crushIPOKing Digital Entertainment PLCScience & Technology

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Health care workers in the intensive care unit at Providence Saint John’s Health Center in Santa Monica, with Alejandro Balderas, a 44-year-old patient who later died. Even in California, a state with a coronavirus vaccination rate well above average, the number of people hospitalized with COVID-19 has nearly doubled in the past two weeks, according to a New York Times database. (Isadora Kosofsky/The New York Times)
Why COVID took off in California, again

‘The good news is: The vaccines are working’

Lake Oroville stood at 33 percent full and 40 percent of historical average when this photograph was taken on Tuesday, June 29, 2021. (Brian van der Brug / Los Angeles Times via Tribune News Service)
A kayaker on the water at Lake Oroville, which stands at 33 percent full and 40 percent of historical average when this photograph was taken on Tuesday, June 29, 2021 in Oroville, Calif. (Brian van der Brug / Los Angeles Times via Tribune News Service)
Facing ‘dire water shortages,’ California bans Delta pumping

By Rachel Becker CalMatters In an aggressive move to address “immediate and… Continue reading

Students practice identifying species in the school garden at Verde Elementary in Richmond during summer camp. (Photo courtesy of Verde Elementary)
Reading, writing and bike riding: How schools spent summer helping students recover from pandemic

By Sydney Johnson EdSource Bicycles typically aren’t allowed on the blacktop at… Continue reading

The San Francisco Public Utilities Commission launched a pilot program that offers up to 90 percent discounts on water and sewer bills for eligible customers. (Andri Tambunan/Special to ProPublica)
How does 90% off your water bill sound? Here’s who qualifies

The San Francisco Public Utilities Commission announced this week it is launching… Continue reading

Most Read