The studio behind addictive matching puzzle game Candy Crush has begun the process of filing for its U.S. IPO with the Securities and Exchange Commission, Re/Code reports. The UK company will look to begin trading on the New York Stock Exchange under the ‘KING’ ticker symbol should everything go according to plan.
Last year, Candy Crush was the top earning title on any mobile platform according to mobile app analytics firm Distimo, since it occupied a top spot on both iOS and Android all year. Candy Crush was released halfway through 2012, but it has managed to retain much of its momentum since then, which is impressive in the fickle casual games market. As Re/Code points out, however, King’s revenue declined between the third and fourth quarters of 2013, so it may need its next hit to come along sooner rather than later.
Currently, however, King’s games bring in 1.2 billion daily plays from 128 million daily active users according to the most recent numbers from the company, of which 73 percent come from mobile devices. Candy Crush has definitely been a defining moment for the company, but it has been in the casual games business since 2003, and in its IPO King cites its massive built-in player network (which includes 324 monthly active users in total) as a key competitive advantage.
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via TechCrunch » Startups http://ift.tt/O3kero
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