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Candy Crush Saga maker preps for IPO

By CAROLINE LEE, UPI.com   |   June 20, 2013 at 3:45 PM   |   Comments

June 20 (UPI) -- The creator of popular puzzle game "Candy Crush Saga" is gearing up to go public.

Midasplayer International Holding Co. -- better known as King -- is the game's publisher. It has hired banks including J. P. Morgan and Bank of America to pursue an initial public offering in the U.S.

The game, which has 15 million daily users, has roped in a following of players swiping to match columns and rows of candy items. It was first launched on Facebook in April 2012, and has since become a free iPhone and Android app. Last month alone the company had more than 70 million daily players across its gaming library.

The pricing and timing of the deal have not yet been determined. If King reaches a decision, the company would serve as a guinea pig in the current market for online gaming companies, especially after the disappointing IPO of fellow social app-maker Zynga.

Mobile game sales are expected to earn more than $9.9 billion this year, up from $8.8 billion in 2012.

Follow @cmlee and @UPI on Twitter.
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