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After the Zynga flop, all eyes on King’s coming-out party

13
Mar
2014

By Malathi Nayak and Gerry Shih SAN FRANCISCO (Reuters) – King Digital Entertainment Plc struck gold with Candy Crush Saga, the runaway hit that made its way onto hundreds of millions of smartphones and spawned a $1.5 billion franchise. Now, the rest of the smartphone game industry is waiting to see if King can pull off a coup in the public markets – and perhaps spur a mobile gaming IPO rush in the process. London-based King is seeking a valuation up to $7.6 billion when it lists on the New York Stock Exchange on March 26. The offering would mark the largest U.S. IPO from a booming mobile gaming industry that has been keen to emerge from the shadow of Zynga Inc, the social gaming firm that lost half its value after a 2011 IPO that valued it at $7 billion.

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