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TheStreet Open House

[video] Maker of Candy Crush Saga Sets Sights on $500 Million IPO

Stocks in this article: FBAAPL

NEW YORK ( TheStreet) -- The Candy Crush Saga continues ... The maker of the hit game, King Digital Entertainment, said it's planning to raise up to $500 million in an initial public offering.  King Digital filed for an IPO with the Securities and Exchange Commission in September.  The game developer plans to list on the New York Stock Exchange under the ticker symbol "KING," according to the filing.  Candy Crush was launched on Facebook in 2012 and became the most downloaded free app of 2013 on both iPhones and iPads, according to Apple.

VIDEO TRANSCRIPT:

The Candy Crush Saga continues. The maker of the hit game, King Digital Entertainment, said it's planning to raise up to $500 million in an initial public offering.

King Digital filed for an IPO with the Securities and Exchange Commission in September. The game developer plans to list on the New York Stock Exchange under the ticker symbol "KING," according to the filing.

In the filing, King Digital said it believes Candy Crush Saga is one of the largest interactive entertainment franchises of all time. The company reported profit of more than $567 million in 2013 -- up from $7.8 million in 2012.  Candy Crush Saga accounted for 78% of its total gross bookings in the fourth quarter of 2013.

Candy Crush was launched on Facebook (FB) in 2012 and became the most downloaded free app of 2013 on both iPhones and iPads, according to Apple (AAPL).  In New York, I'm Brittany Umar for TheStreet.

Written by Brittany Umar in New York.

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