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Rovio to go public "in the next few years"

Mon 21 Mar 2011 11:03am GMT / 7:03am EDT / 4:03am PDT
CasualDevelopment

Chariman admits to IPO plans but dismisses 200 million valuation figure

Angry Birds developer Rovio is looking to make an initial public stock offering on Nasdaq "in the next few years", according to company chairman Kaj Hed.

"We probably want to be in a marketplace that is as liquid as possible, which would probably mean Nasdaq is our stock exchange of choice," he said in a Bloomberg interview. "If we can do it in the next few years, that would be great."

"We are working exactly according to plan, we're releasing a lot of new games, there's 'Rio' coming out next week, that's going to be a big thing," said Hed. "There's a lot of new development happening on the studio side and the business development side."

The Finnish developer secured $42 million in funding earlier in the month, as it also named Skype co-founder Niklas Zennstroem to its board.

The company also recently revealed that downloads for Angry Birds, including free versions of the game, had reached 100 million. Despite development costs of just $140,000 the game has now generated revenues of $70 million from various sources.

Rumours have put Rovio's market valuation at around 200 million, although Hed himself has dismissed this figure as "speculation". However, he has predicted 5 million in revenues and 3 million of profit for the company's second half financial results.

8 Comments

Bostjan Troha
CEO

29 12 0.4
The 'social' bubble is now totally ripe to burst...

Posted:3 years ago

#1
Damn, I hate to be cynical, but how attractive is Rovio going to look to potential investors as they look through their portfolio of successful game?

Posted:3 years ago

#2

Sebastian Moss
Editor -in- Chief

57 19 0.3
I'm interested to see what they have planned outside of Angry Birds

Posted:3 years ago

#3

Robert Turner
Studying Games Programming

24 0 0.0
Angry Birds is a mediocre game at best. And it's pure luck that it is where it is.

Posted:3 years ago

#4
Dont underestimate the power of franchising of.....Mad byrds, Rabid Bards and Crazy Beds to extend the lifecycle of Rovio :)

Posted:3 years ago

#5

Sebastian Moss
Editor -in- Chief

57 19 0.3
Yeah, they are definitely going to push this franchise as far as it will go, and I'm sure it'll be incredibly lucrative for them, but they better not be putting all their angry eggs in one basket, its amazing how quickly bubbles can burst.

Posted:3 years ago

#6

Hugo Trepanier
Senior UI Designer

155 140 0.9
What bothers me most is that Angry Birds is not even an original game, in fact it's pretty much a rip-off of Crush the Castle only with cuter graphics and more polish. I'll admit I never quite liked the game but I do wish good luck to the developers and hope for them they can score another success story. Here's hoping it'll be an original one this time.

Edit: and yes, I know, most titles are inspired from others as well... nothing new under the sun, but still :)

Edited 1 times. Last edit by Hugo Trepanier on 21st March 2011 10:39pm

Posted:3 years ago

#7

Greg Wilcox
Creator, Destroy All Fanboys!

2,130 1,038 0.5
Hmmm... NOW, can I get those "It's JENGA... With A Slingshot (TM!)" T-shirts made? I do have a Zazzle account...but I don't want to be sued by a bunch of birds poopin' on my house with rocks...

Posted:3 years ago

#8

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