King, developer of the wildly popular Candy Crush Saga Facebook/mobile gaming franchise, has secretly filed for an IPO under the JOBS Act, the Telegraph reports.
The WSJ reported in June King had hired banks to pursue a U.S. IPO. The game developer is believed to have had annual revenue of £300M ($481M) going into 2013. Its Facebook monthly active user base passed that of struggling rival Zynga (ZNGA) earlier this year.
According to AppData, King currently has 3 of the 4 most popular Facebook apps on an MAU basis: Candy Crush Saga (#1), Pet Rescue Saga (#2), and Farm Heroes Saga (#4). 3 other games are in the top-100.
Zynga's most popular title, FarmVille 2, comes in at #12. It's followed by Texas HoldEm Poker (#14). 6 other games are in the top-100.
One question bound to be on investors' minds: can King avoid the boom/bust cycle Zynga has seen in an intensely competitive social/mobile gaming scene where upstarts frequently make it big?