NEW YORK - Shares of King Digital, the company behind the popular mobile game "Candy Crush Saga," are down in the company's public trading debut. King's stock priced at $22.50 on Tuesday and opened on Wednesday at $20.50, almost 9 percent lower. King Digital Entertainment PLC, based in Ireland, had $1.88 billion in revenue last year. Its other top games include "Pet Rescue Saga" and "Farm Heroes Saga." Some analysts have questioned whether King would be able to repeat the success of "Candy Crush," which has been far more successful than any of its other games. King is trading on the New York Stock Exchange under the ticker symbol "KING." … [Read more...] about “Candy Crush” maker’s stock falls in public debut
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NEW YORK - King Digital, the company behind the wildly mobile game "Candy Crush Saga," is scheduled to make its debut on the New York Stock Exchange this week. The company could be valued as high as $7.6 billion if its initial public offering prices at $24 per share, the upper end of its expected range. That's nearly twice as much as its closest rival Zynga Inc. (ZNGA), the creator of "FarmVille." Unlike Zynga, however, King is profitable and has less than a third of Zynga's employee base. The company is offering 15.5 million shares. Existing shareholders are offering another 6.7 million. King expects proceeds of $326 million from the IPO. King, based in Dublin, Ireland, generated revenue of $1.88 billion last year. That's more than 10 times its 2012 revenue of $164.4 million. Zynga's 2013 revenue was $873.3 million. Still, some analysts have wondered whether King is destined to become another Zynga, which was also riding a wave of popularity when it went public in 2011, thanks to … [Read more...] about “Candy Crush” maker King Digital to go public this week
SAN FRANCISCO Zynga (ZNGA) relied on mass layoffs and other cost cutting to trim its second-quarter losses as the troubled company struggled to come up with compelling games to play on smartphones and tablet computers. The results announced Thursday covered Zynga Inc.'s final reporting period before the San Francisco company hired former Microsoft executive Don Mattrick to replace founder Mark Pincus as CEO. Zynga is counting on Mattrick to engineer a turnaround after a highly successful stint in charge of Microsoft Corp.'s Xbox video game operations. The second-quarter review gave Mattrick his first opportunity to publicly assess the challenges facing Zynga since he started the new job earlier this month. Zynga gives new CEO millions to leave Microsoft Zynga cuts workforce 18%: No fun and games In a statement, Mattrick didn't sugarcoat the challenges facing Zynga as the maker of games that were once popular on Facebook's social network tries to figure out how to connect … [Read more...] about Zynga’s second-quarter losses narrow
Games can be both a welcome and an annoying diversion on Facebook, the world's most popular online social network. This year, Facebook crossed a big milestone - reaching 1 billion active users. Game companies such as "FarmVille" creator Zynga Inc. and Rovio Entertainment Ltd. of "Angry Birds" fame seek to tap into that vast base of users to gain more players for their games. This week, Facebook Inc. issued a list of the 25 top-rated games that launched on Facebook in 2012. The company says the rankings are based on user ratings and engagement with the games. It's the same methodology that Facebook uses to rank apps in its App Center. Some of the games are played on Facebook's website, while others are only on Apple Inc.'s iOS or Google Inc.'s Android devices using Facebook's app. Here's the list: 1. "SongPop" (by FreshPlanet, on Facebook.com, iOS and Android) 2. "Dragon City" (by Social Point, on Facebook.com) 3. "Bike Race" (by Top Free Games, on iOS) 4. "Subway Surfers" (by Kiloo, on … [Read more...] about CBS News Logo 25 top-rated Facebook games from 2012
Snapchat, Vine, and Candy Crush Saga earned coveted spots on smartphones this year, making them among the most downloaded apps of the year. There are more than a million apps on Apple Inc's App Store and Google Inc's Play store, the two dominant marketplaces for apps, which see billions of downloads each year. This year, the most downloaded apps were new takes on communication, gaming, and entertainment, according to mobile app experts. "2013 was a really interesting year in terms of maturation, milestones and new trends," said Craig Palli, chief strategy officer at Fiksu, a mobile marketing company based in Boston. "The most downloaded apps were in familiar categories, but offered new twists," he added. While old favorites such as Instagram, Facebook and Twitter — available for iPhone, Android and other devices - continued to be popular ways of communicating with friends, Snapchat eclipsed them in downloads in 2013, becoming the sixth most downloaded free app of the … [Read more...] about CBS News Logo Snapchat, Vine among top smartphone apps of 2013
Until today, few people probably heard of King Digital Entertainment, the corporate parent of the hugely popular Candy Crush game. That is about to change. Earlier today, the company unveiled plans for a $500 million U.S. initial public offering. Unlike 68 percent of other IPOs that are unprofitable, King Digital makes money -- lots of it -- earning $567.6 million in profit last year, an increase of more than 7,000 percent from $7.8 million in 2012. Revenue surged more than tenfold to $1.3 billion. As of Dec. 31, King Digital had 408 million average monthly users, compared with 67 million in the quarter ended Dec. 31, 2012. That's an increase of more than 508 percent. Not surprisingly, King Digital warned in its filing with the U.S. Securities & Exchange Commission that the growth may not be sustainable. "Although we were profitable in the past, we expect to make significant investments in growing our business and significantly increase our employee headcount, which could … [Read more...] about Will Wall Street find Candy Crush parent’s IPO sweet?
King Digital (KING), maker of hit social game Candy Crush, saw its IPO price at $22.50 a share. With 22.2 million shares being offered, that translates into roughly $344 million for the company and another $156 million for insiders and investors. Before-hours trading sent shares to $28.50, an encouraging sign for investors. But that has fallen away as the stock dropped to $20 this morning, or more than 11 percent off. King Digital has been mostly profitable for years, according to its SEC filings. Combined with strong growth and greater control over expenses and you have the sort of start that the market usually finds attractive. There were other numbers that should have looked good. King's big title, Candy Crush, was the most frequently downloaded free app on iPhones and iPads in 2013, according to Apple. That represented more app downloads than Facebook, Google Maps, and YouTube. Also bolstering its promising position, 73 percent of the company's bookings in the last quarter of 2013 … [Read more...] about Will King Digital’s $7.1 billion valuation last?
To make an omelet, sometimes you have to break some eggs. At least, that's what Angry Birds app designer Rovio is hoping will happen after it cuts up to 130 jobs, or about 16 percent of its workforce, to cope with slowing growth and games that failed to fly. "We have been building our team on assumptions of faster growth than have materialized," Rovio chief executive Mikael Hed wrote in a blog post on Thursday. The game maker said it will organize around three business that it believes have the highest growth potential: Games, media and consumer products. The job cuts come as its latest Angry Birds release, a female-centric game called Stella, failed to crack the top 100 downloaded apps on Apple. While the original Angry Birds game still has more than 200 million monthly active players, the app has apparently shed 63 million players since it peaked in 2012. "It is never easy to consider changes like this, but it is better to do them sooner rather than later, when we are in a good … [Read more...] about As Angry Birds loses its perch, app maker to cut jobs
We know we're crazy for apps. But recent findings suggest that we're getting crazier. A Nielsen report on app usage trends in the second quarter of 2014 found that Americans 18 and over spend an average of 43 hours and 31 minutes each month using apps or absorbed in mobile browsing. That's nearly two days' worth of thumb-tapping out of 30, and 10 hours more than was observed in the same period a year ago. According to the U.S. Mobile App Report released by Internet tracking company comScore in August, apps have outpaced all other forms of digital media growth. Mobile app usage, the report said, grew 52 percent between June 2013 and June 2014, compared with a meager 1 percent uptick for desktop computing. App activity now accounts for more than half of all our digital media time. For every eight minutes we spend on our phones, comScore reported, we spend seven tinkering in an app. And chances are, it's Facebook. The social network topped comScore's list of most-visited apps in June, … [Read more...] about CBS News Logo Americans spend almost two full days a month using apps
Image source: The Motley Fool. Activision Blizzard, Inc. (NASDAQ: ATVI) Q4 2017 Earnings Conference Call Feb. 8, 2018, 4:30 p.m. ET Contents: Prepared Remarks Questions and Answers Call Participants Prepared Remarks: Operator Good day and welcome to the Activision Blizzard Q4 2017 Earnings Call. Today's conference is being recorded. At this time, I would like to turn the conference over to Amrita Ahuja, Senior Vice President of Investor Relations. Please go ahead. Amrita Ahuja -- Senior Vice President of Investor Relations Good afternoon, and thank you for joining us today for Activision Blizzard's fourth quarter 2017 conference call. With us are Bobby Kotick, CEO; Coddy Johnson, President and COO; and Spencer Neumann, CFO. And for Q&A, Dennis Durkin, Chief Corporate Officer; Mike Morhaime, CEO of Blizzard; Eric Hirshberg, CEO of Activision; and Riccardo Zacconi, CEO of King, will also join us. I would like to remind everyone that during this call we will … [Read more...] about Activision Blizzard, Inc (ATVI) Q4 2017 Earnings Conference Call Transcript