The publisher of the world's most addictive mobile game, Candy Crush Saga, is going public, stirring memories of one of the worst IPOs of all time: Zynga's (ZNGA) 2011 debut.
But, although both companies are in the online and mobile gaming business, King has a different profile and a different business model — one that looks much more sustainable over the long term.
The London-based King has reportedly filed a confidential IPO registration statement with the U.S. Securities and Exchange Commission, The Telegraph reported late Thursday. Using the same tactic as social network Twitter, King is keeping the filing secret until just before starting its investor roadshow, typically about a month before a deal is priced. Assuming the market remains stable, pricing could come in the next few months.
Zynga went public at $11 a share in December 2011. But a series of disappointments and missteps pummeled the shares, which now trade at $3.71, off 66% from the IPO.
To be sure, investors have yetRead More »from Candy Crush Saga Could Be Far Better IPO Story Than Zynga