Candy Crush games developer King valued at over $7bn

[Hum]

The games developer behind Candy Crush Saga, King, has been valued at over $7bn (?4.2bn) after it raised $500m listing on the New York Stock Exchange.

It sold 22.2 million shares priced at $22.50 per share - the mid-point of the range the firm had initially set.

King said it plans to use the money raised for "working capital" and "other general corporate purposes, which may include acquisitions".

Candy Crush was the most downloaded free mobile app of 2013.

It is the most popular offering from King - which has a portfolio of of more than 180 games.

The game's popularity saw King's revenues rise to $1.8bn in 2013, from just $64m two years ago.

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[Eric Veteran]

I'd never consider King worth that much... but I'm not an "analyst."

[techbeck]

Never played the game and really no interest.  My sister and niece play it all the time though.

[Praetor]

i want what this analists smoke because that sure does gives such a high...

 

7bn? the bubble won't sustain for too long...

[#Michael]

Well...it's first day of trading hasn't gone very well.  The day is just about over and it is down a bit over $3.36 a share.  So much for making money on the ipo.  Hope no one invested too much in it.

[vcfan]

users are worth alot of money. i'll sell my exclusivity to the highest bidder please.

[+John Teacake MVC]

I am sorry but its not!! Some of the genuinely good company's don't ever get valued at this. Look at Royal Mail. I smell another Social .com bubble here. Anyway it looks like the first day of trading didn't go too well. 

[+Majesticmerc MVC]

7 billion valuation for a one-trick pony? If anyone still needs convincing that we're in the middle of a tech bubble, this would do it.

 

Regardless, King are a bunch of scumbags anyway, and I won't go near any of their products after this.

 

 

Well...it's first day of trading hasn't gone very well.  The day is just about over and it is down a bit over $3.36 a share.  So much for making money on the ipo.  Hope no one invested too much in it.

 

Meh, that seems to be the trend nowadays, let IPO investors take the initial hit and let the share price recover. Facebook fell drastically in its first day, but has since recovered and then some. I wouldn't look too much into it at this point.