The popular Candy Crush mobile game creator, King, has quietly filed for a initial public offering in America, the Telegraph reported. This IPO is expected to bring a $5 billion value to the company and is considered one of the biggest IPOs by UK technology company in years.
UK-based King is one of the largest social game publishers, formerly compared with Zynga before the U.S.-based social game creator’s unsuccessful 2011 IPO.
The Telegraph notes that few financial details have been released, but King was generating $484, 020,000 at the start of the year and seeing an average game play of over 30 billion each month. Its Candy Crush Saga game greatly contributed to the company’s successful numbers, as it is the most popular game played on Facebook.
To help with finances, King has also enlisted in Hope Cochran as its new chief financial officer. Cochran will manage the company’s financing, including the large revenue generated from Candy Crush Saga and other mobile titles, Venture Beat reported. She could also oversee the IPO.
In June, King was plotting its IPO by hiring banks for guidance.
King will likely struggle to convince investors that it’s stock will not plummet like Zynga’s did during its disappointing IPO.
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