King Digital Entertainment, one of the largest mobile and social game developers, largely due to the wild success of Candy Crush Saga, raised $500 million by offering 22.2 million shares (30% insider) at $22.50, the midpoint of the $21-$24 range. King now commands a fully diluted market cap of $7.5 billion and an enterprise value of $6.9 billion. King’s IPO valuation makes it the third highest valued pure-play game developer in the world and its enterprise value is only 14% below Electronic Arts.
