Investors looking for a chance to get a piece of the fast-growing social network gaming and mobile gaming spaces could have the opportunity by year’s end.
PopCap Games, known for such titles as “Bejeweled,” “Bookworm” and “Plants vs. Zombies,” is mulling an IPO. And while a casual game company might seem an unlikely contender to go public, this one boasts both a rabidly loyal audience (that often buys multiple copies of its titles on multiple platforms) and steady revenue growth. As a result, it has been on Wall Street’s radar for a while now.
PopCap president David Roberts says the company hasn’t committed to a public offering yet, but it’s an idea that it has been building toward for the past few years. The company has filed a Section 12 registration with the Securities and Exchange Commission, he noted.
“I do think we’ll be ready internally,” he says. “Whether the market is ready remains to be seen. … It has got to be right for us.”
PopCap crossed $100 million in revenues last year and has sold more than 10 million games on the iPhone. The company has been steadily adding to its board, including tech veteran Steve Raymund last May. In October 2009, it received $22.5 million in venture capital funding from late-stage investment firm Meritech Capital Partners.Page 1 of 4 | Next Page