WASHINGTON — The popular mobile device game, “Candy Crush Saga,” has seen its initial public offering (IPO) rise and fall amid concerns it is a one-hit wonder.
Reuters reported that King Digital Entertainment, the company that created the game, tried to convince investors that the game is sustainable in the long run.
After Facebook bought a virtual reality start-up Oculus VR for $2 billion, it increases the pressure on King Digital to make its case for future and prolonged viability. Yet, their initial desire was to have an IPO of $7.6 billion.
Investors are skittish after seeing the rise and fall of game maker Zynga as well as Facebook’s own struggles.