King Digital Entertainment seeks to raise up to $532.8 million in its initial public offering as it values its operations at nearly $7.6 billion
The maker of the hugely popular puzzle game Candy Crush is hoping to raise up to $532.8 million in its initial public offering as it values its operations at nearly $7.6 billion, reflecting the rapid ascendence of the online mobile gaming industry.
The developer of the irresistibly addictive game, King Digital Entertainment, wants to sell 22.2 million shares between $21 and $24 in its IPO, placing it ahead of its rival and last game giant to go public, Zynga. Candy Crush’s maker King initially filed for the IPO last month.
The company saw an average of 144 million daily active users playing its games more than 1.4 billion times a day—an increase from 128 million daily active users playing more than 1.2 billion times in December.
King’s target valuation for its IPO would set it behind more established gaming players like Electronic Arts ($9.2 billion valuation) and Activision Blizzard ($14.3 billion).