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18 Feb 2014

King Files for IPO Seeking up to $500 Million

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Today King, the game publishing company that created the smash hit Candy Crush Saga has filed the official documents to register for an IPO. The company has not released any details on the exact amount of shares that will be offered or when it will go into effect just yet. It’s been suggested that King is filing in effort to raise an estimated $500 million dollars.

Although recent reports indicate that King’s profits have started to decline for the very first time since its initial launch of their successful candy puzzler app, the company is still very hopeful.  Their latest financial stats from 2013 reveal that the company made an impressive $1.88 billion in revenues with profits of roughly $568 million. The numbers show a huge increase from the previous year.

“A small number of games currently generate a substantial majority of revenue,” King stated as they gave an account of their company’s core revenue and the risks associated with investment.

Candy Crush Saga, Pet Rescue Saga, and Farm Heroes Saga contributed to 95% of King’s income total for last quarter with the immensely popular Candy Crush Saga accounting for 78% of the gross. This estimated sum includes all users’ in-app purchases for special items and boosts.

“We have experienced significant rapid growth in our operations, and we cannot assure you that we will effectively manage our growth,” King added.

The company also said that it plans to expand its game catalogue in the coming months and improve all to their apps and systems in order to continue being one of the top publishers in the business. “If we fail to do so, our ability to grow our business could be harmed,” says King.

“We must develop new games and enhance our existing games so that our players will continue to play our games and make purchases of virtual items within our game.”

(Source: Gamasutra.com)

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