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King files IPO for $533 Million, did not take any lessons from Zynga

Candy Crush's maker files IPO with hopes of raising $533 million.

@CharlesJGantt
Published Wed, Mar 12 2014 2:45 PM CDT   |   Updated Sat, Aug 8 2020 10:29 AM CDT

Another mobile tech software developer is filing for its Initial Public Offering (IPO) but is this another case of a company not knowing true value? Today King, the developer of popular mobile games such as Candy Crush Saga, has officially turned in its F1 filing to the Securities and Exchange Commission. King is seeking to raise $532.8 million with about 22.2 million shares valued at about $24 each. This gives the company a total valuation of $7.6 billion.

King files IPO for $533 Million, did not take any lessons from Zynga | TweakTown.com

Unfortunately we have seen a similar situation present itself before when Zynga filled its IPO and was valued at $7 billion based on the success of a hand full of mobile games. King's biggest title to date is Candy Crush Saga, with a few other less popular games. It leaves one wondering why a company with a single hit game would value themselves at $7.6 billion, especially since at the moment its entire success depends on Candy Crush Saga staying in the popular favor.

NEWS SOURCE:techcrunch.com

A web developer by day, Charles comes to TweakTown after a short break from the Tech Journalism world. Formerly the Editor in Chief at TheBestCaseScenario, he now writes Maker and DIY content. Charles is a self proclaimed Maker of Things and is a major supporter of the Maker movement. In his free time, Charles likes to build just about anything, with past projects ranging from custom PC cooling control systems to 3D printers. Other expensive addictions include Photography, Astronomy and Home Automation.

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