King Files $500M IPO
Just over two years ago, social games company Zynga went public at $10 per share, as its popular games like FarmVille and Texas HoldEm Poker gained in popularity. Shares rose to almost $15 in March 2012, but quickly tapered off and are now worth only $5.
Yesterday, another social gaming company named King filed for a $500M IPO, otherwise known as the creators of the wildly popular mobile game Candy Crush Saga which is played over 1 billion times per day. The company recorded revenues of $1.8B in 2013, up from $165M in 2012.
The major topic of controversy is whether King will be able to stand the test of time on Wall Street, as Candy Crush Saga accounts for 78% of King’s total company revenues in a constantly-changing mobile gaming market, and other social gaming companies have lost momentum.
The Motley Fool published an article highlighting 3 issues that King faces after its IPO - monetization, reliance on Candy Crush Saga, and unsustainable growth rates. Wired offered a negative outlook on the upcoming IPO, citing the failure of companies like Atari, Sega and 3DO as comparison.
Not all conversation has been negative, though. Forbes offered positive commentary, saying that if King can continue the momentum with another successful game, the company will have a chance. Do you think King will find success on Wall Street, or not? Let us know in the comments below.
Bridging the Console/Tablet Gap
Up until recently, the console and tablet gaming industries have been very different from one another - with consoles being generally focused on immersive and eye-catching experiences, and tablets having an emphasis on the pick-up-and-play/arcade style. But as tablets are growing quickly in market size and graphical power, some people are calling them “the next console”.
Ubisoft’s VP of digital, Chris Early recently spoke at the AppsWorld Conference about how the console-tablet gap is closing. Citing several examples, from EA’s Battlelog to Ubisoft’s upcoming Division game, he discussed how consoles and tablets can be complementary gaming platforms. A summary of the speech can be read here on GamesIndustry. What other companies do you know of that are attempting to bridge the tablet-console gaming gap?