Candy Crush Maker King Digital Entertainment Sets IPO Terms
March 13, 2014
King Digital Entertainment, the maker of Candy Crush, Facebook's most popular game, has set terms for its IPO. The offering is expected to include 22.2 million shares priced between $21 and $24 per share, and the company plans to list on the NYSE under the symbol KING. Stockholders include Apax Partners (48.2% pre-IPO stake) and Index Ventures (8.3%), both of which participated in the company's Series A round in 2005. At the upper end of the proposed range, King would command a market value of $7.6 billion.
King's IPO is sure to attract some very interested eyes, as it's the first big-name gaming company to go public since Zynga (in 2011), which fell flat after its debut. There are currently a number of VC-backed companies that, based on very large recent financings, are primed to IPO, and King's performance on the NYSE will likely be a major factor in whether they will follow in the gaming giant's footsteps or choose another route. Here are seven VC-backed companies that have landed $30 million+ funding rounds in the last several years and have yet to be acquired or go public:
1. Rovio (Raised a $42 million Series A round in 2011 and later that year turned down Zynga's $2.25 billion acquisition bid) 2. Chukong Technologies ($50 million Series D in 2013) 3. Kabam ($87 million Series D in 2011) 4. Linekong ($80 million Series C in 2014) 5. 6waves ($35 million round in 2011) 6. Happy Elements ($35 million round in 2011) 7. Chukong Technologies ($50 million Series D in 2013)