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'Candy Crush Saga' developer reportedly files for IPO, hopes to avoid Zynga's fate

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Candy Crush Saga
Candy Crush Saga

The company behind Candy Crush Saga is going public. Social games developer King has reportedly filed for its IPO on the Nasdaq exchange, according to a report from The Telegraph. Just as Twitter did two weeks ago, King started the process confidentially, a luxury afforded to small companies by the JOBS Act. The filing is said to value King — which sees 100 million daily active users — at $5 billion. With its initial public offering, King of course hopes to avoid the fate of Zynga, another mobile / social developer that has been hemorrhaging users and revenues over the last several years. King has already attempted to streamline its business scope: the company last month announced plans to shut down five titles so that it could put more resources behind successful efforts like Candy Crush Saga. In January the game tallied 9.7 million daily active users on Facebook, enough to topple FarmVille 2's previous record of 8.7 million.