Over $7B Valued for Candy Crush Game Developer - Nepalee.Com

Over $7B Valued for Candy Crush Game Developer

Candy_crush-townLiving and lifestyle around the world has been changed unwillingly in the past two decades as technological invention has made people’s life easier, faster and effortless.

You can pass your days by just surfing the net, chatting with your old school mates, you can learn online, watch movies, and more you can play games on your mobile sets.

Recently, i was taking my vacation to my Native country which is still considered as least developed, per ca-pita income is far lower than European or american,

main source of income comes from farming and people specially the young generation have plenty of time wasting playing mobile games.

I have seen couple fighting for a single device to play game, cleaning home is altered, washing clothes are not less frequented and children are not even completing their homework.

What is so special about playing video games, or puzzles or mobile games?

A simple idea which has made people less productive, lazy and in some cases, family life has been turned off due to such kind of extra activities in recent years.

According to some online gaming sites, there are more than 384 Million People around the globe who spent at least 1 hour a day to play candy crush alone which its developer has accepted recently.

Think if those time wasters contribute to build a road, contribute the health improvement, contribute to volunteer in some areas, we will have free manpower for 384 million hours daily. Imagine that could be the biggest human achievement if people think this way.

Far from my thinking, one of the most popular games developer King has been listed in one of the most powerful economy and will start trading soon in the international exchange.

Here are the news that i am talking about, The games developer behind Candy Crush Saga, King, has been valued at over $7bn (£4.2bn) after it raised $500m listing on the New York Stock Exchange.

It sold 22.2 million shares priced at $22.50 per share – the mid-point of the range the firm had initially set.

King said it plans to use the money raised for “working capital” and “other general corporate purposes, which may include acquisitions”.

Candy Crush was the most downloaded free mobile app of 2013.

It is the most popular offering from King – which has a portfolio of of more than 180 games.

The game’s popularity saw King’s revenues rise to $1.8bn in 2013, from just $64m two years ago.

But there have been concerns that the firm relies too heavily on Candy Crush and that if its popularity faded, the company’s revenue and profits would be hit.

According to the company, its top three games – Candy Crush Saga, Pet Rescue Saga and Farm Heroes Saga – accounted for 95% of its total revenue in the fourth quarter of 2013.

The firm’s shares will start trading on the New York Stock Exchange on Wednesday.

Source: BBC

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