Print 17 comment(s) - last by vol7ron.. on May 12 at 4:30 PM

Analysts have valued the company at $9 billion

Rovio Entertainment, the creator of the popular mobile game Angry Birds, is looking to go public in 2013 after a knockout 2011.

Rovio, which was founded in 2003, is looking at an initial public offering (IPO) next year in either New York or Hong Kong. Analysts have valued the company at $9 billion.

The Finnish video game developer launched Angry Birds in 2009, and has seen massive success ever since. The game has seen over 800 million downloads, and had 200 million active users monthly by the end of 2011.

Back in March, Rovio unleashed its latest Angry Birds release alongside NASA engineers called Angry Birds Space. In the first 35 days of launch, Angry Birds Space hit 50 million downloads, making it the fastest growing mobile game ever. The game allows PC, Mac, iOS and Android users to launch various types of birds at the green pigs using a whole new set of moves based on a zero-gravity environment. It offers 60 levels with six new characters and powers.

But Rovio's success doesn't end at the Angry Birds games. Last year, Rovio said one million plush toys and one million Angry Birds T-shirts were being sold on a monthly basis. In addition, the game was locked into a film deal with 20th Century Fox, where Rovio was able to release an Angry Birds "Rio" version based on the 2011 children's movie.

In 2011, Rovio's profit before tax was at $48 million on sales of $99 million. This was a huge boost from 2010's revenues of about $10 million. Rovio also raised $42 million from venture capital firms last year.

According to the Angry Birds maker, 2012 is expected to look just as good. Rovio plans to release many more Angry Birds and non-Angry Birds-related titles, and is aided by an increased cell phone sales outlook. The company has also placed large investments in branding, brand protection and product development.

"2012 looks fantastic," said Mikael Hed, Rovio CEO. "We have had some very strong download numbers over four months."

Rovio hasn't mentioned any other specifics regarding the upcoming IPO, but Rovio head of Investor Relations Anders Lindeberg said the company is preparing itself for a 2013 IPO.

Source: Reuters

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RE: They Should Sell Now and Profit
By NellyFromMA on 5/7/2012 12:09:51 PM , Rating: 2
LOL! Mobile Apps are easy to develop? I'm gonna take a big guess and say you've never actually developed one yourself?

In no imaginable way is developing a mobile app easy, especially compared to development for PC / Server.

Unless I missed something serious during my research for work.

Both Objective C (iOS) and the whole Java / Eclipse environment for the ADK (Android) are awful to use compared to modern development environments.

The tools are good when you consider how early they are in their life cycles on their respective platforms, but comparatively they are nightmares.

RE: They Should Sell Now and Profit
By Reclaimer77 on 5/7/2012 12:35:33 PM , Rating: 3
He's using a common, yet flawed, layman's premise: If a game/app looks simply and basic, it MUST be simple and basic to code.

heh, if only...

RE: They Should Sell Now and Profit
By WalksTheWalk on 5/8/2012 12:12:30 PM , Rating: 3
Regardless of the difficulty, you're right that they should sell now if they want to hedge their risk of devaluing the company between now and the IPO.

Between Rovio, Instagram, Twitter, etc. there is another technology bubble building. Years 2011-2013, meet years 1995-2000.

RE: They Should Sell Now and Profit
By vol7ron on 5/12/2012 4:30:57 PM , Rating: 2
I must be one of the few that found Angry Birds entertaining for 5 mins and got tired of it.

There's a whole chain of those type of games now, so yes it would be nice to sell now - just so I don't have to hear about it anymore.

By martin5000 on 5/8/2012 10:39:04 AM , Rating: 2
I agree that developing for Android is crap, but I think he means that mobile apps are generally a lot less complex and have fewer features, therefore are easier to make, and from experience I would say that is true.

"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins

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