King The Creator of Candy Crush Floats Company on New York Stock Exchange

Candy CrushMobile app creators around the world have one shared ambition when it comes to producing their innovative and groundbreaking ideas, and like almost everything in life that is to make big money!

That ambition became a reality for one app developer as they decided to float their company’s shares on the New York Stock Exchange. King – creator of popular gaming app Candy Crush – managed to raise $500m during this floatation raising the company’s overall value to $7bn. Priced at $22.50 per share, King managed to sell over 22.5 million shares and trading is set to start today.

King are a very well established organisation with over 180 games in their portfolio, however like any company going public there are risks. The main threat hinders on the popularity of their games. Currently King’s top three games accumulate for 95% of their revenue – according to their Q4 2013 accounts. One of those games was Candy Crush, which became the most downloaded free mobile app of 2013 helping King’s revenue rise to $1.8bn. This will be an area carefully monitored by investors over the coming months.

Another area King plans to use the investment is in what they called “other general corporate purposes, which may include acquisitions”. Gaming apps, be on the lookout!

Advertisements

About MUSTARD PR

We’re a savvy boutique team of brand and communication consultants working across consumer and B2B markets. We deliver strategic and creative PR campaigns that get our clients noticed no matter who they are – from start-ups to major global corporations.

Posted on March 27, 2014, in Uncategorized. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: