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    Candy Crush IPO: King hopes to turn candy to cash

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    Candy Crush makers King Digital Entertainment have decided to take the company public after filing IPO papers on Tuesday with the SEC in the hopes of raising $500 million.

    King says it wants to trade on the NYSE under the KING ticker. Investors are interested in King because it is an enormous, fast-growing company. Investors are hesitant though because King is an enormous, fast-growing company based on a single game.

    Last year, the company made $568 million in profits on $1.88 billion in revenue. Those numbers come after a loss of $1.3 million on revenue of $64 million in 2011.

    The big problem for King is that nearly all of their growth come from a single game, Candy Crush Saga. The game generates 78 percent of the company's revenue. Around 93 million people play the game every day.

    The problem that investors and others see is that King only has Candy Crush. What will happen when people eventually tire of the game? King's revenue declined from $621 million in the third quarter to $602 million in the fourth quarter. King said, "the decline was driven by a decrease in Candy Crush Saga gross bookings." King is trying to develop other games like, Pet Rescue Saga, Farm Heroes Saga, Papa Bear Saga and Bubble With Saga.

    Investors may worry King will be just another one-hit wonder like Zynga's Farmville or Rovio's Angry Birds. To help dispel the one-hit wonder myth, both Angry Bird makers Rovio and King are set to release completely new and unique games with Angry Dwarves and Qaeda Crush. Will it be enough?

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