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back to article Candy Crush King sees IPO go sour as stock price heads south

Mobile games firm King Digital failed to take the stock market by storm Wednesday as the firm's initial public offering (IPO) saw its stock price decline by more than 15 per cent at close of trading. The company made famous for its Candy Crush mobile game had been seeking a valuation of roughly $7bn wen it offered its shares on …

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Boo fucking hoo.

That is all.

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Ha

King Crush Saga

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We're worth Beellions!

"Why? We have the latest fad! Act now and invest heavily before the fickle masses move on to the next hot thing!"

Somehow, that just never seems to be a good idea, except to the one holding the fad, or people with more money than brains.

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Which will be the next flash in the pan billion dollar IPO?

Flappy Bird or 2048?

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Re: Which will be the next flash in the pan billion dollar IPO?

I pray they never work out how to get money from 2048.

If they do, I'm lost.

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Re: Which will be the next flash in the pan billion dollar IPO?

Damn you, DougS... why did you have to go and mention 2048?

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The majority of game developers have gone bankrupt over the years. Few manage more than one hit and a few sequels. This is an industry with no natural monopoly or lock in

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What about EA and Activision? More than a few sequels there

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Its getting like the pop music industry

"The majority of game developers have gone bankrupt over the years"

One hit wonders come along, make everyone a load of money then fickle adolescent interest moves onto the next Big Thing and the "artist" or game developer is left wondering what happened. The only difference with a listed company is that pump and dump comes into play and I suspect thats whats happened here.

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EA and Activision are both publishers now. If you'd like to look at the long long long list of developers that they have used and have since broken up and gone bust.

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The majority of game developers have gone bankrupt over the years. Few manage more than one hit and a few sequels. This is an industry with no natural monopoly or lock in

Unless your Name is Electronic Arts Destroyer of Worlds...

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What about EA and Activision?

That's right - they're the cause.

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Over 350 years later ...

Tulip mania returns.

Humans are absolutely daft, as a herd, and completely incapable of learning from their predecessor's mistakes.

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Re: Over 350 years later ...

"Humans are absolutely daft, as a herd, and completely incapable of learning from their predecessor's mistakes."

There's a reason religions tend to call their followers their "flock". Because they are just like sheep. Luckily for our species a small percentage of every generation rebels against the status quo - above and beyond the usual teenage routine - and often helps us advance. Or they become criminals, but the behaviours are flip sides of the same coin unfortunately.

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Re: Over 350 years later ...

But don't forget that 350 years later many people in Holland make a lot of money with tulips.

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Re: Over 350 years later ...

Dear Sir,

not only in Holland. But I regress...

The point is, in 350 years there'll a billion people in the Netherlands alone, all of whom eat tulips, each of which was grown in a pot on the windowsill.

Regards,

Guus

non-tulip eating Dutchman

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I have to wonder about this...

Back on the 18th of February, they were looking to make $500 Million their IPO. I'd say they succeeded. Then today's headline is all whiney because they're seeking $7 Billion. Hmm... did someone's ego suddenly inflate?

Given that there's a backlash over their attempt to trademark "CANDY"... I'm wondering if the smart money said "pffffff".

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Re: I have to wonder about this...

In the IPO they were offering about 7% of the company, since that was priced about 500 million, that means their valuation for the whole of the company was about 7 billion.

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King don't care. They got their cash.

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@ Anonymous Coward 101

No, AC. No cash. All King got was a pile of paper that they can't sell without driving the price per share down even further.

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Send in the clones

Am I correct in assuming that all their games are a rip off of Bejewelled, just with different graphics?

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Re: Send in the clones

but for a mobile device?

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Re: Send in the clones

That game is on mobile devices already.

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Re: Send in the clones

I played pet heroes, that was slightly different but no different from games where you have to get as many colours as possible touching each other to eliminate them...

Not played anything else but I'm sure there is a free version they've copied

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Re: Send in the clones

They have mastered the art of copying another game while maximizing the amount of money they can squeeze out of suckers for power ups to get past the odd extra hard level.

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Coat

I guess...

That's a micro transaction!

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It couldn't have happened to a nicer bunch of theives

It'll do no good for Albert Ransom, but I do take a little bit of delight in seeing someone get their comeuppance.

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Anonymous Coward

Bad timing

Candy Crush may or may not be worth investing into, their timing sucked as the U.S. markets are dropping like a rock lately. That accounts for the 15% drop in one day with their IPO. Who knows where this company will be in a few years. These IPOs are for gamblers more than investors.

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Biology lesson

To understand IPOs, watch a wildlife film. The most obvious example will be on your local savannah, but there are also good examples in aquatic ecosystems.

How do predators take prey from larger species? Do they gather in packs, isolate individuals from the herd, try to outrun and exhaust their prey, attack in unison, and weaken the victim by inflicting small injuries? Yes, they do all of these things. But their most successful strategy is to hunt and kill the young. They're slow, weak, dumb, and very, very tasty.

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$7Bn? Really?

Fuck that.

Is EA even "worth" $7Bn? Hmm - if I'm reading this right they're worth $8.84Bn. Still, point still stands. EA is a very established company in this market with a proven track record spanning 25+ years.

Valve? About $2.5Bn

Take 2? $1.75Bn

Nintendo is worth about $14Bn. Are these muppets trying to say that two King Digitals make a Nintendo?

Arseholes. The lot of them.

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Anonymous Coward

Re: $7Bn? Really?

My brother-in-law (no ex) is stock broker. His primary area of expertise is "creating value" for IPOs.

Trust me, what he does might open your eyes to how rigged the stock market actually is.

Anon, obviously

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Re: $7Bn? Really?

I don't think anyone would be surprised to learn that the stock market is rigged.

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Devil

Hopefully King's Waterloo moment

As an indie game developer with a sense of ethics, nothing would please me more than to see this pack of thieves ruined. Hopefully this is the beginning of a rapid decline into obscurity for King.

Unfortunately, there will always be someone equally greedy willing to step in and take their place.

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MrT
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Re: Hopefully King's Waterloo moment

More hopefully their "Battle of Balaclava" moment...

"Cannon to right of them,

Cannon to left of them,

Cannon behind them"

Better stop there, it sounds like the basic premise for "Cannon Fodder Saga™"

Please let one of the King board members be called Cardigan.

"Into the Valley of Death rode the King board members..."

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Coat

Missing the point(s)

"The proliferation of mobile devices is dramatically expanding the global gaming audience, much of which is attracted to casual titles."

Casual titties, rather.

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this is symptomatic...

global equity markets have entirely decoupled from underlying economic fundamentals. as the indices are pumped to new records by the magic of QE, it is hardly surprising to find vapour-punting IPOs taking advantage of the new environment. it will all end very, very badly.

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The Underpants Gnomes Guide To Tech IPO's

1) Make game

2) ???

3) Profit

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Anonymous Coward

'King hell.

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Bah!

But isn't this how the modern stock market works? The initial evaluation is speculative based (as far as I can make out) on hope because there isn't any other metric, the price falls when people doing the fast trading can't see the point, then gradually finds its "true" value over the next few weeks until a new product announcement causes a flurry of activity in which only computer mediated (and triggered) trades win and ordinary meat traders lose, until the stock is worthless?

Who knew that putting computers in charge of the trading process would be a model-breaking mistake?

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Anonymous Coward

Are fools really born every minute?

If so then there will always be money and fortunes to be made.

I joined Facebook in 2007, and not too long ago I got on the Candy Crush craze too. After some introspective, I decided that Facebook is no longer as fun as it used to be, and after I reached level 500 on Candy Crush I also found it was a total waste of my time. I found that with Facebook/Candy Crush...no necessary task has been accomplished. Time has been expended, nothing more.

I quickly erased (using an automated FireFox scripts) everything on Facebook, changed my password to something gibberish, force signed out of all other Facebook logins everywhere, and Deleted my account (be careful, deactivating is NOT the same as deleting it...Google it). I tossed the gibberish password and deleted all of my Facebook and related game apps.

When people start to wake up like I did everyone will flee the ship and it will sink. I am part of this growing trend. Does anyone remember Myspace and Meebo? Mark Zuckerberg and Riccardo Zacconi should enjoy their billions while it lasts. One day these high tech sweethearts and idols will both be washed up hasbeens as they wrinkle and decay like John McAfee has.

Naturally some fools will stay with Facebook and many will lose loads of money when both IPO's crash. In the meantime I'll be doing something else meaningful with my time.

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RE: King's IPO

Don't you fools understand,

IPO stands for

Initial

Profit is

OURS!!!!!

Sheeple!!!

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Well, their products are games with little (at best) depth. Is it any wonder that they're going to be last week's flavour of the day when (a) there's nothing to keep people using the game for months on end and (b) the vapid Yoof of Today gnerally only wants shiny, shiny and nothing more.

There are some game companies out there with one product and seem to be doing well. One example, if not the example, is CCP Games. But their offering won't fit on a phone or a fondleslab.

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