“With 100 million people logging on every day for a fix of its games like Candy Crush Saga, global gamemaker King is showing rivals not just how to hook players, but how to get them to pay,” Mia Shanley reports for Reuters.
“King is the latest among European tech firms like Rovio, creator of mega-hit Angry Birds, and Mojang, behind Minecraft, to make it big on the global gaming scene,” Shanley reports. “But its stunning profitability in an industry littered with firms who failed to make money from popular games has made it a totem for others seeking to emulate its success.”
Shanley reports, “King’s focus on the multi-billion dollar mobile games market – creating short, addictive puzzles for the fastest-growing part of the gaming industry – has helped it reap profits rare in its field. Though the company does not publish numbers, industry experts have estimated its revenues at $1 million-$3 million a day. Media reports now talk about an IPO valuation of $5 billion after a source recently said the company had filed to go public in the United States.”
“Players lured by the appealing graphics of Candy Crush can pay for more lives, or must wait for 30 minutes before they may start again – though some cheat and move the clocks on their smartphones ahead so they can continue,” Shanley reports. “The game’s appeal was broadened by its social aspect: Players can share their progress on Facebook, swapping lives as well as tips on how to crack the various levels. Others share their pain: ‘Die Candy Crush. Die.’ writes one player, stuck at level 60, on King’s Facebook page.”
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Maker of ‘Candy Crush Saga’ King.com said to file for U.S. IPO – October 2, 2013