I’ve heard that song before.

So the makers of Candy Crush Saga want to do an IPO:

Midasplayer International Holding Co., the publisher of online and mobile games including the popular “Candy Crush Saga,” has hired banks to pursue a U.S. initial public offering, according to people familiar with the move.

It seems to me that another game company went public a while back with less than optimal results:

Zynga’s revenues for the first quarter of 2013 declined 18% year-over-year to $264 million as the company is in the midst of doing a big pivot onto mobile platforms. The company swung to a profit from a year ago though, with net income of $4 million. Last year, during the same quarter, Zynga earned $321 million in revenue.

Building a successful company based on the whims of game players doesn’t seem like a good long term strategy. People often play a game incessantly for a while, then tire of it en masse. At least Candy Crush Saga already has a mobile strategy in place.

IPOs like this seem destined as a way to create a big pop for a few fortunate well-connected investors, and that’s about it.


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