You may not know the name “King,” but you’ve almost certainly heard of the company’s massively popular mobile game, Candy Crush Saga. The Telegraph reports the U.K. company has filed its pre-IPO S-1 with the Securities and Exchange Commission.
King is 10 years old, but 2012 was arguably a breakthrough year for the company in the U.S., when it surpassed both Electronic Arts and Zynga in the number of daily, active players of its Facebook-connected games.
Although Candy Crush is free, the simple game, which requires you to match three candies in a row, is packed with all kinds of tantalizing in-app purchases, like extra moves or various power-ups, for between $0.99 and $1.99. The specifics of King’s financials are unknown, but it has been profitable since 2005.
But the news of King’s planned IPO isn’t necessarily sweet for everyone: Potential investors no doubt still remember the fallout from the IPO of another giant mobile games company, Zynga, whose stock price infamously peaked at almost $15 a share last March before plummeting to lows that hovered just above $2 a share as the company struggled to monetize. Could King finally prove to investors there’s real money to be made in mobile games?