The British mobile gaming company King.com has confidentially filed for an IPO in the U.S., according to this Reuters piece citing an anonymous source. The company has hired Bank of America Merrill Lynch Corp., Credit Suisse Group AG and JP Morgan Chase & Co. to lead the IPO, according to the story, which confirms an earlier report in the Financial Times.
King expanded beyond PC-based online gaming last year, and its Candy Crush Saga has quickly become one of the most popular titles in mobile gaming history. But as I wrote a few months ago, mobile gaming is a market that has yet to be mastered: No publisher or developer has managed to string together huge successes based on multiple franchises, and behemoths like EA and Zynga have struggled to extend their successes on other platforms to mobile. King might be able to duplicate the success of Candy Crush Saga with other titles and franchises to become the first true champ of mobile gaming. But I wouldn’t bet much money on it.