Company Behind Candy Crush Seeks $7.6 Billion IPO Valuation
King Digital, the maker of the Candy Crush Saga mobile game, has set an IPO price of $21 to $24. Forbes reports that the company believes it could be valued as high as $7.6 billion. The company made $1.8 billion in revenues last year.
King Digital's most popular game is Candy Crush Saga. Forbes says 78% of the company's fourth quarter revenues were generated by Candy Crush Saga. The game is available as an app and is free to play. However, some in-game items such as extra moves or lives require payment which is how the company makes its money. The popular game was parodied on a recent episode of Brooklyn Nine-Nine. The captain on the comedy police show got addicted to a similar mobile game called "Kwazy Cupcakes."
Bloomberg says the game makes about $1 million a day. Take a look:
Posted on March 13, 2014