It’s good to be King, or rather, King did the right thing, after a deserved pillorying from the press from hyperaggressively protecting their trademarks for the words candy and saga. The company has settled with both Stoic Games and Runsome Apps, the developers of Banner Saga and CandySwipe, respectively.
King’s initial IPO ends not with a bang, and not quite a whimper, but a sigh. Aiming for $ 21 – 24 per share, it ended the day at $ 19, a drop of 15 % from its initial price of $ 22.50.
King.com seems set to back down from their controversial trademarking policies, as they have now filed to withdraw their trademark for the word candy, famously part of their breakout hit, Candy Crush Saga.
Criticism of King.com for their overreaching trademark applications reached fever pitch when Albert Ransom, the developer of CandySwipe shared an open letter making accusations that King was singling him out with their actions.
King Digital, the publishers of Candy Crush Saga, have revealed that they are set to launch a public IPO to raise $ 500 million. This news comes as the IGDA criticizes the company for their overly aggressive trademark protection.