Arab Today, arab today candy crush maker sees ipo valuation up to 76bn
Last Updated : GMT 00:03:59
Arab Today, arab today
Arab Today, arab today

Profits in the fourth quarter reached $159m

Candy Crush maker sees IPO valuation up to $7.6bn

Arab Today, arab today

Arab Today, arab today Candy Crush maker sees IPO valuation up to $7.6bn

Person plays Candy Crush Saga on his tablet
London - Arab Today

Person plays Candy Crush Saga on his tablet The maker of the addictive mobile game Candy Crush hopes to raise as much as $532.8 million in a New York IPO that would value the company at up to $7.6 billion. King Digital Entertainment, the British developer behind the hit game, filed new documents on its much-awaited initial public offering that showed plans to sell 22.2 million shares at between $21 and $24 a share.
That would give the company a market capitalization of between $6.6 billion and $7.6 billion.
That is a substantial payoff for a simple game that is rooted in the decades-old Tetris -- sweets and bon bons tumble from the top which the player needs to match in groups to advance.
But the addictive qualities of the Candy Crush Saga, and the company's ability to monetize that by users on computers, tablets and cellphones paying extra to help them advance through its 500 levels, underpin the sky-high valuation.
The company says its games, which also include Farm Heroes and Pet Rescue, are installed on 600 million mobile devices, and played over 1.4 billion times a day -- more than one billion alone for Candy Crush.
That has driven a sharp climb in revenues, from $22 million in the first quarter of 2012 to $602 million in the fourth quarter of last year, the company said in its filing with the US Securities and Exchange Commission.
Profits in the fourth quarter reached $159 million.
"Our focus is to provide a highly engaging, differentiated entertainment experience where the combination of challenge and progress drives a sense of achievement," King Digital said.
"We believe we have a repeatable and scalable game development process that is unparalleled in our industry."
"A key principle for King is that no individual game session should take more than a few minutes," chief executive Riccardo Zacconi said in the IPO statement.
"We call it bitesize brilliance -- the perfect way to spend three minutes of free time."
The IPO, announced last month, could test the US market's stomach for high valuations of technology stocks after its strong five-year bull run.
Stocks have paused in recent weeks with investors seeking more signs of economic and corporate strength to push them higher; the S&P 500 is up less than 1.0 percent so far this year.
The huge listings of Facebook and Twitter in the past two years have proven successful despite early worries of overpricing.
But Zynga, the company behind the hit online game FarmVille, was valued at $7 billion when it entered the market in December 2011, and has since lost 40 percent of that value.
Silicon Valley analyst Rob Enderle told AFP he viewed the King IPO price as "very ambitious and risky" and warned it might not hold up after the shares begin trading.
"This is a game company and game companies are only as good as their popular games," he said.
"Folks tend to tire and switch with most game classes, and the casual game class has a ton of competition."
That said, he added, "the market is funding well beyond what I think are reasonable amounts so they actually could get the money."
Source: AFP

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today candy crush maker sees ipo valuation up to 76bn Arab Today, arab today candy crush maker sees ipo valuation up to 76bn

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 10:06 2017 Friday ,17 February

South Korea's Hanjin Shipping declared bankrupt

GMT 09:26 2017 Friday ,17 February

Samsung's history tainted by run-ins with the law

GMT 09:20 2017 Friday ,17 February

Samsung heir arrested in corruption probe

GMT 10:26 2017 Thursday ,16 February

Dollar, equities stutter in Asia after Trump rally

GMT 08:45 2017 Thursday ,16 February

Hanjin saga reveals S.Korea corporate governance flaws

GMT 09:40 2017 Wednesday ,15 February

Heineken profits drained in 2016 by currency turmoil

GMT 09:10 2017 Tuesday ,14 February

Sharjah Chamber Eyes Strong Economic Ties with Belgium
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday