Candy Crush Company to Float on New York Stock Exchange
The British technology firm King, best known as the creators of the extremely popular social game Candy Crush, have announced that they are to float on the New York Stock Exchange. Candy Crush is a free app which was the top downloaded app of 2013 with 500 million downloads, and King hopes to raise around $500 Million from the float. Candy Crush is of course not the only game developed by King and their 150 suite of games assisted them in reaching around $600 million in revenues on the final quarter of 2013 alone. There will be concern however that Candy Crush Saga accounts for a huge 78% of that revenue and it's no secret that the huge impact and success of that game is what has made King successful. Repeating that success is what King must strive to achieve, however the nature of Candy Crush Saga means that new levels of the game may be released, lengthening its shelf life and possibly retaining its appeal.
Similarities have of course been made between King and the giant social media company Zynga. Zynga has had an extremely rough ride recently, with job losses, office closures and a falling share price however while Zynga cut its ties with Facebook, King has no plans to do so. This may again help King in the short term, however with numbers of teenagers and young adults dropping on Facebook too, nothing is certain.