Candy Crush Seeks Sweet Payday on Wall Street

The company behind the addictive smartphone game is set to go public with an IPO.
3:00 | 03/25/14

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Transcript for Candy Crush Seeks Sweet Payday on Wall Street
The smash hit smartphone game candy crush that has people everywhere hooked including perhaps some folks at this desk. It is set to go public on wall Street this week giving the creator of the addictive app a very sweet payday and ABC's Rebecca Jarvis has the story. ? Reporter: If you're one of the millions of people who spent hundreds of hours trying to clear all the jelly, the game is just beginning. At least that's what king digital entertainment, the uk-based company behind candy crush is counting on. King is expected to become a public company tomorrow morning and will likely debut on the new York stock exchange between 21 and $24 a share worth $7.6 billion. For king it's a big deal in the sense it will raise a significant sum of money, perhaps upwards of $700 million. Reporter: It debuted in November 2012. Topping farmville, Texas hold 'em poker, bejeweled blitz and subway surfers and now this morning the game rakes in $10 million a week reportedly thanks to its half a billion users who play the game over a billion times each day but in the world of constantly changing obsessions investors may not be as sweet on candy as its user. Selling a fad product the challenge is are you going to be able to turn that into hits going forward. Reporter: Now you want to keep in mind companies like this, they do tend to trade very volatilely so if you are going to invest in it be prepared for that volatility and just learning about this game today, be prepared to be hooked on these little candies, guys. I got to get back to it, level 235. Wow. Wow. Not bad at all. Yeah. Note to self, create an addictive game and sell it. For lots of money. Thanks, Rebecca. A check of the weather and I

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