SAN FRANCISCO -- Will Wall Street have a crush on King Digital Entertainment?
The London-based maker of the highly addictive smartphone game Candy Crush has filed paperwork with the Securities and Exchange Commission for an initial public offering of up to $500 million. It’s aiming to trade on the New York Stock Exchange under the “KING” ticker.
The numbers are sure to sound sweet enough. The company has posted big gains in the last couple of years.
In 2013, King reported $567.6 million on revenue of $1.88 billion, up from $7.8 million on revenue of $164.4 million in 2012.
But there’s a potentially sour side to that sweet success. All of this soaring growth was...