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Mind Candy considering IPO in the "next few years"

Thu 16 Feb 2012 4:05am GMT / 11:05pm EST / 8:05pm PST
Business

"Going public at some point is the smartest way forward," says Acton-Smith

Moshi Monsters creator Mind Candy is considering an IPO rather than selling the business, as it prepares to enter the North American market.

"We can't necessarily stay private forever," CEO Michael Acton-Smith told Reuters. "We have a lot of shareholders and we don't want to sell. Going public at some point is the smartest way forward."

He added that investors have had eyes opened by recent moves by the likes of Zynga and Pandora, but the company wouldn't be prepared to float until sometime in the "next few years."

"To build a business with global scale that can go public, we absolutely have to be huge in the US and that's one of the many reasons we want Moshi to take off here," he said. According to the report, Acton-Smith is considering moving to the US.

"The window has been opened this year where it hasn't been in recent years. Investors are understanding there's a huge amount of value in tech businesses."

Mind Candy only has the one franchise at this stage, but Moshi Monsters has around 60 million users. The company told GamesIndustry.biz last year that it has a number of projects "bubbling away."

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