King Digital Entertainment files for initial public opening

Feb. 18, 2014 at 3:23 PM
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DUBLIN, Ireland, Feb. 18 (UPI) -- Electronic game maker King Digital Entertainment, based in Ireland, has filed for a public launch in the United States.

The company filed for an initial public offering Tuesday, the New York Times reported.

King is not quite an upstart. The company is 11 years old and, unlike many upstarts, has been making a profit. In 2012, it launched Candy Crush, a game with the goal of matching three identical candies in a row, which opens up space for new challenges.

The game's app is free, but players pay to keep going, which equates to huge profits for the company.

The company said it had revenue of $1.9 billion in 2013, as profits soared from from $7.8 million to $567.6 million in one year.

Candy Crush is the second highest grossing at Apple's App store and accounts for 93 million of the company's 128 million users per day.

The money raised at an IPO would used to buy other companies, the filing said.

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