The developer behind popular mobile-based game Candy Crush Saga, King has decided to float on the New York Stock Exchange.
No information regarding the number of shares or possible price-range has been divulged.
The number of shares to be offered and the price range for the offering have not yet been determined.
Pardon my complete lack of knowledge when it comes to business related issues but according to some business analysts, floating on the New York Stock Exchange means that the company is hoping to raise $500 from Initial Public Offering.
Candy Crush Saga was released in 2012 and from that period, more than 500 million copies have been downloaded. In addition to this, it was the most downloaded application of 2013 in Free Category.
This highly addictive game has recorded 700 million sessions in a single day and daily sales of $850,000
Owning to the success of Candy Crush Saga, King managed to increase its revenues to more than $600 million with more than $160 million of profit income. The company is now worth more than $5 billion.
According to Nicholas Lovell, Director at Gamesbrief:
Seventy-eight percent of its revenue has come from Candy Crush Saga. The concentration in one title is very big.
In similar news, the developer has trademarked the word, ‘Candy’ which has caused several companies to receive trademark infringement in one way or another.