WSJ reports that the King Digital, makers of the somehow popular FaceBook Game, Candy Crush Saga, released an IPO today, which promptly got crushed it's own self in the worst first-day trading of any IPO this year.
While anyone who's spent any time on FB knows, until you figure out how to block invitations, you'll see endless popups stating "[friend name here] Invited You To Play Candy Crush Saga".
I'm sure it's a fine game for those interested in such things. And I'm sure reaching level 1,456 is quite an accomplishment - I just don't need an alert every time it happens. Would seem I'm not the only one.
So the obvious question is, did King Digital CEO Riccardo Sacconi really send out emails to potential investors with the subject line of "Riccardo Invited You to Play The Stock Market With Candy Crush Saga"?
I don't actually know what announcements they sent out, as I'm not yet in the investor class normally invited to IPO first day offers. But if he did follow the Facebook Invite format, there's a better than even chance everyone hit 'delete' before getting to the end of the subject line. I'm just sayin'.
And we all get to have lots of fun, as Candy Crush Bashing has become a common meme. (Apologies for the NSFW language on the one to the right, but this was one of the cleaner ones.)
So we all get to have a good chuckle today - but like the Facebook IPO, King Digital will likely rebound in the weeks to come. And on a more serious note, the company valuation dropped $1.1b as the release price on the IPO was $22 and change to start and ended south of $19 a share. I suppose a billion dollar loss would be considered serious money in most circles, and not really a laughing matter.
Somehow, I think King Digital has the last laugh, as the company, even after the worst IPO first day trading of the year, is valued at $6 billion - and my company, at last account was worth...um let's see...add the receivables...carry the one...round up... safe to say my company is worth considerably less.
So get ready for your inbox, your Facebook timeline, your LinkedIn Pulse feed to be flooded with messages - "Gene Invites You to Play Business Software Saga." Except the whole point of my business is to take the 'saga' part out of buying business software - so I got some work to do here - but you get the idea.
You can contact Gene via GH@GeneHammons.com.
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Although invited several dozen times, Gene's never actually played 'Candy Crush Saga', but he does have experience with other software, like Oracle, SAP, Infor, Microsoft Dynamics, Netsuite, Salesforce.com, Acumatica and about 65 others - yet he's somehow never gotten to level 422 on any of them. Go figure.
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