Candy Crush flotation set to make founders overnight multi millionaires

IPO could mark a record for British mobile app makers

riccardo zacconi -set to make a mint

King, the London games studio behind the mobile hit Candy Crush, could soon make history after revealing it hopes to raise $7.6 billion (£4.5 billion) when it floats in New York later this month [March 2014]. The IPO figure, if achieved, could set a record for British mobile app firms and would make overnight multi millionaires of its founders CEO Riccardo Zacconi, whose 10 per cent stake alone could be worth as much as $745 million, while chairman Melvyn Morris, who owns a 12 per cent interest, could be in for even more of a windfall. Zacconi and Morris, a former director of Derby football club, first worked together at the Midlands-based matchmaking site uDate, which they sold for $150 million to Interactive Corporation in 2002.

The company’s 22.2 million shares are set to be priced between $21 and $24, according to filings submitted to the US Securities and Exchange Commission.

If all goes to plan, the $7.6 billion raised will be four times the size leveraged by the makers of hit game Grand Theft Auto when it floated, and not far short of the $9.2 bililon achieved by Electronic Arts.

King has risen on the crest of huge growth in recent years, boasting 324 million monthly users, though more than three-quarters of its revenues come from Candy Crush.

About Dave Evans

Dave Evans is a long established commentator on both the IT and cellular industries. His current focus is on share price trends within the sector. You can email him here
This article was published in Financial, mobile developers, mobile news and tagged , , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *


You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>