Swedish Startup Space

King’s valuation rockets to 48 billion kronor

Written by on March 20

Dagens industri reported that gaming company King, maker of the hit game Candy Crush Saga, is currently seeking a valuation of just over 48 billion SEK, as it gets closer to it’s IPO. According to new information in the company’s F1 application to the SEC, the company is now seeking a valuation of up to $ 7.6 billion, or 48.5 billion kronor.

That would make King one of the world’s most highly valued gaming companies – and stands to make the company’s founders some serious cash. According to Bloomberg News, the company will bring in between 466 and $ 533 million when it sold 22.2 million shares at a price within the range of 21-24 dollars per share.

King’s hit game, Candy Crush has so far been downloaded over 500 million times and topped last year Apple’s list of the highest grossing games in the App Store. During the fourth quarter of last year, Candy Crush accounted for almost 80 percent of the company’s gross revenues.

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