Candy Crush Developer Going Public in US
There's a lot of money being made off video game development in the interactive gaming industry. A smart video game developer could raise money for new video game development using this fact as leverage. They could also use the money expand operations and acquire new assets to improve the bottom line of the company.
Candy Crush developer, King Digital Entertainment, recently announced they would sell 22.2 million shares on the US stock market, worth about $553 million. This move will value the company at around $7.6 billion and make the company more valuable to potential investors and buyers. They'll also be able to spend money on developing new video games and improving current titles.
King Digital Entertainment indicates it will use the money to expand the company and acquire new assets. A surprising move considering the company is profitable, having made over $500 million during 2013. The company's largest shareholder is currently Apax Partners, a UK private equity group. Considering 12.2 million daily users play the firm's best game, Candy Crush, we might see a few new investors, or even buyers, appear out of the woodwork.