Candy Crush Saga's developer goes public, loses almost $1 billion

Candy Crush Saga's developer goes public, loses almost $1 billion
King, the developer behind the wildly-popular Candy Crush Saga, went public yesterday, but the price of its shares quickly fell below the $20 mark. The game company hoped to establish a market value of around $7.6 billion via an IPO (initial public offering) and it hoped to sell roughly 22 million shares priced at $22.50. However, the price of King's stocks quickly fell down 16% to $18.90, bringing the game developer's value to roughly $6 billion. The London-based company succeeded in selling just 15.5 million shares during the first day of its IPO, placing it among the worst-performing ones since Twitter went public back in November 2013.

The developer of Candy Crush Saga is the largest game company to go public since Zynga. As a side comparison, the price of Zynga's shares decreased by just 5% on the first day of its initial public offering and the company is currently valued at about $4 billion.

The most sound reason for King's poor performance is the reluctance of investors to put their money in a company, which solely relies on the success of just one high-grossing game – the in-app purchases in Candy Crush Saga generated roughly $600 million for the company in Q4 2013 alone.

source: Reuters



1. brar.arsh

Posts: 202; Member since: Sep 12, 2012


2. drazwy

Posts: 356; Member since: Jan 15, 2014

Oh no! Only 6 billion? What ever will they do?

11. Reluctant_Human

Posts: 913; Member since: Jun 28, 2012

It's only a matter before this app stock bubble pops. These companies are being valued way too highly.

22. sgtdisturbed47

Posts: 969; Member since: Feb 02, 2012

It'll be a few years before that happens though. Even silly, small games can go big and gross millions immediately, because it's very easy to make in-app purchases with debit/credit cards that are stored on-file. The nature of the "easy purchase" makes these games explode.

26. Reluctant_Human

Posts: 913; Member since: Jun 28, 2012

That's true but they don't want warrant billion dollar evaluations. The only app company that can come close to that is rovio because of the licencing deals with the angry birds series.

3. Deadeye37

Posts: 306; Member since: Jan 25, 2011

Not a big fan of the company due to them trademarking extremely common words like 'candy' and 'saga'. Burn baby burn!

24. corporateJP

Posts: 2458; Member since: Nov 28, 2009

Yeah, these guys are pri**s.

4. hortizano

Posts: 294; Member since: May 22, 2013

Yeah, this is laughable.. most of us are worried about making ends meet.. and they are worried about been valued at ONLY 6 billion.. First world problems.

5. Lt.Green

Posts: 397; Member since: Mar 13, 2014

Serves them right. Egotistic scums.

6. Commentator

Posts: 3723; Member since: Aug 16, 2011

What's Candy Crush? (Seriously, I've never seen how it works. Is it like Bejeweled or something?)

8. ihavenoname

Posts: 1693; Member since: Aug 18, 2013

Yeah, pretty much like Bejeweled.

13. gigantos

Posts: 63; Member since: Jul 25, 2013

You are so serious

16. Sniggly

Posts: 7305; Member since: Dec 05, 2009

It's similar to Bejeweled, except you can make combos out of any "same" pieces so long as they're adjacent in some way (as opposed to Bejeweled, where you could only connect combos in the cardinal directions and straight lines.

17. hortizano

Posts: 294; Member since: May 22, 2013

Quickly, someone post this guy a link to it... He might enjoy it...

7. moslondon

Posts: 40; Member since: Mar 07, 2013

bring it to windows phone...

9. CX3NT3_713

Posts: 2361; Member since: Apr 18, 2011

Its a crappy game... Tetris knockoff

10. FoxDavis

Posts: 60; Member since: Jul 12, 2012

So glad. I deleted from all my devices. I do not care for this company cause the trademark issue.

12. marbovo

Posts: 658; Member since: May 16, 2013

Just one game and the company already goes public?!?!

14. Sniggly

Posts: 7305; Member since: Dec 05, 2009

Honestly, it's a bit of karmic justice considering they stole their entire game concept from an independent developer, then did their best to crush him (no pun intended) when he objected.

15. LeBrownJames

Posts: 201; Member since: Mar 17, 2014

A private company who's been doing great should think twice before going public, especially if they only became famous just of few products (or game). Just ask Eike Batista.

18. xoxoGeorges

Posts: 209; Member since: Jul 11, 2013

That's what they get for adamantly refusing WP.

19. JMartin22

Posts: 2372; Member since: Apr 30, 2013

I hope it burns to cinders, they're right up there with Mobage, Gameloft, Glu Mobile and others when it comes to the extreme money pit economics of their microtransaction/in-app purchases. To me, mobile gaming is dead.

20. xche78x

Posts: 101; Member since: Mar 11, 2014

Is this Karma? Those selfish pricks! Trademarking candy and saga, the greediness must end...

21. PK1983

Posts: 215; Member since: Aug 08, 2012

King is a horrible, greedy company with no innovation. Can't wait for them to go the way of Myspace and Zynga.

25. corporateJP

Posts: 2458; Member since: Nov 28, 2009

Karma isn't yet done with these guys....

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