King Digital Entertainment, the Irish publisher behind Candy Crush and several other big mobile games, has filed its initial IPO papers with the SEC, and says it wants to trade on the NYSE under the KING ticker. Now the company behind it wants to go public. It appears Apple might have some competition in the "reality distortion field" market.Candy Crush isn’t just a crazily addictive time-waster: It’s also a really, really big business.
King has already gotten in legal trouble for cloning games in the past, while also going on record to state that the company definitely doesn't clone games. One place it certainly isn't being spent is in the development of original game ideas, as King has yet to actually publish a title that isn't clearly derivative of a popular puzzle game that came before it. That's a tremendous amount of success - and money - for a relatively small company, and has to make you wonder where all that cash is actually going. It's worth noting that King still has four games in the 20 top grossing on the entire App Store. Well, it topped the "Free" chart, but according to App Annie's realtime data, it hasn't yet cracked the top 150 overall grossing, so how much it will immediately help reverse King's fortunes is anyone's guess. So, naturally, the company has decided more Candy Crush is needed.Ĭandy Crush Soda Saga saw its worldwide release on Tuesday and quickly rocketed to the top of the app charts. The number of people who actually pay in to their free-to-play game model fell from 10.4 million to 8.7 million.
Seeing strong competition from other free-to-play games, King's third quarter results were dire, with revenues down 17 percent since the previous year and 13 percent from the previous quarter, and profits were down 38 percent from a year prior. Candy Crush Saga has made publisher King a lot of money since its release in 2012, but those days have passed.
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