Could Candy Crush Saga be preparing for an initial public offering? Midasplayer International Holding Co., better known as King, is the software developer responsible for the hit Facebook game Candy Crush Saga. The company could be eyeing an IPO, according to an article published in Bloomberg BusinessWeek. The magazine revealed that King, which is a multinational company, is working on the IPO with JPMorgan Chase & Co., Credit Suisse Group, and Bank of America. King has offices in Europe and the United States.
The rumored Candy Crush Saga IPO bank partners declined to comment to Bloomberg. In a statement to the Wall Street Journal, however, a spokesman for King said that the company was thinking about the possibility of the IPO. "King's success and growth presents numerous opportunities for the business to develop further, and one option would be to take the company public," the spokesman said. "However, while it's an option for the future, we would not comment on when we could consider making such a decision."
Candy Crush Saga is based around the same concept as Bejeweled. Players move around pieces of candy (think jelly beans, lozenges, and lemon drops) into same-kind rows to rack up their score. Reportedly, as of last month Candy Crush Saga was the most popular online game in the world. There are approximately 15 million users playing Candy Crush Saga at least once a day.
King competitor and online gaming giant Zynga went public in 2011. While at first the company generated high expectations amongst investors, now, the company recently laid off 520 people (representing18 percent of its workforce.) "None of us ever expected to face a day like today, especially when so much of our culture has been about growth," Zynga CEO Mark Pincus said in a message to employees when the layoffs occurred. "But I think we all know this is necessary to move forward."
Candy Crush Saga publisher King was founded in 2003 and has offices in London, Hamburg, Stockholm, and San Francisco, according to its website. The mobile version of online video game Candy Crush Saga is the second-most popular free game on the Apple App Store right now. Alex Dale, chief marketing officer for King, didn't respond to requests for comment yesterday.