UK mobile games maker King delays IPO due to Candy Crush surge

By VCPOST Staff Reporter

Dec 09, 2013 12:13 AM EST

King, the maker of mobile game Candy Crush Saga, has put off its initial public offering (IPO) until next year. The delay comes amid fears that the success of the UK firm's flagship game is just a "one hit wonder," wrote The Telegraph.

The British company is preparing for a potential USD5 billion (GBP3 billion) flotation on the Nasdaq stock exchange. However, the games maker decided to give more time to prove that it can replicate the success of Candy Crush with its other games, the report explained.

The company's rapid growth was launched by Candy Crush, the most popular game in Facebook at present. The game has been downloaded over 500 million times on mobile phones, the report stated.

The Candy Crush hype is reminiscent of the success of Farmville, the game that fueled Zynga's IPO price. However, the San Francisco game company lost around three quarters of its value after it failed to achieve the same degree of success with its other games, the report said. Right now, King is under pressure to show that the successors of Candy Crush will have a similar traction, the report said. Sources close to the firm said it already has other games that have already surpassed Candy Crush Saga. These games include Farm Heroes and Pet Rescue, The Telegraph reported.

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