Angry Birds Creator Rovio Preparing for 2013 IPO
May 7, 2012 11:43 AM
comment(s) - last by
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.
This article is over a month old, voting and posting comments is disabled
RE: retarded multiple
5/7/2012 12:52:09 PM
Welcome to the decade of hype. Where hype is the denominator of value, rather then quality or longevity, earnings, revenue etc. It's all about the marketing now.
It's not so bad. After all it is still supply and demand, even though it's questionable what people demand. The only thing you shouldn't do is actually invest in these companies. Because hype is a fickle thing. And the next angry birds or farmville *will* come.
For actual companies it will be hell. If they manage to capture hype, it will inflate the company beyond what it's worth. When the hype moves to another company, that first company will deflate to below it's worth and they will lose a lot of money, possibly even go bankrupt. For the CEO's of said companies... well... This is insider trading heaven. Sell your stock after the IPO then buy it back at a fraction of the cost, or start a new company and do the same thing.
For ye ol' investor... eh... it's best to not be an investor in this decade. Get out and wait for the 2018-2020 buyers market. Or go into agriculture, that'll be hot next decade.
RE: retarded multiple
5/10/2012 3:02:27 AM
Hype's nothing new.
Do you not remember the .com hyped up bubble?
"This is from the DailyTech.com. It's a science website." -- Rush Limbaugh
Quick Note: Angry Birds Space Breaks Mobile Download Record of Any Game
April 30, 2012, 4:34 PM
NASA Works with Rovio to Launch "Angry Birds Space" Game
March 8, 2012, 3:00 PM
Angry Birds Hits 350M Downloads; Rovio Targets Film Deals, Merchandise
September 13, 2011, 12:14 PM
AT&T CEO Says Carriers Can No Longer Foot the Bill for High-End, Subsidized Smartphones
December 11, 2013, 10:55 AM
IPotty and iPad Tot Seat Ignite Controversy: Brilliant or "Destructive"?
December 10, 2013, 6:22 PM
Quick Note: Sleek White Second-Gen Nexus 7 Goes on Sale for $269
December 10, 2013, 4:55 PM
Illinois Considers Ban on Google Glass While Driving
December 10, 2013, 10:21 AM
EU to Nokia: Don't Even Think About Becoming a Patent Troll
December 9, 2013, 10:29 AM
Apple's "iBeacon" Tracks Customers Inside Apple Stores for Enhanced Shopping Experience
December 6, 2013, 11:26 AM
Most Popular Articles
Experts: Masturbation Prevents Cancer, Diabetes, Insomnia, and Depression
December 6, 2013, 2:01 PM
Hackers Nab 2 Million Login Credentials from Facebook, Gmail, Twitter
December 5, 2013, 1:00 PM
Thieves Steal Truck with Cobalt-60 Onboard in Mexico, Will Die "Without a Doubt" from Exposure
December 5, 2013, 12:04 PM
Man Arrested for Using 5 Cents Worth of Electricity to Charge Nissan Leaf at Middle School
December 4, 2013, 8:00 PM
U.S. Navy Fires "XFC" Drone from Underwater Submarine
December 6, 2013, 2:35 PM
Latest Blog Posts
Justice Leaks Details of Next HTC One Two Flagship Phone
Dec 5, 2013, 4:04 PM
Global Cyber Espionage Concerns Reveal Growing Cyber Armies
Nov 29, 2013, 11:04 AM
Is The Period Becoming an Expression of Anger?
Nov 26, 2013, 2:02 PM
NSA and Congress -- You Will Never Kill the Constitution, It's an Idea
Nov 10, 2013, 2:00 PM
AT&T Explores $100B+ USD Deal to Acquire Vodafone's European Operations
Nov 4, 2013, 7:34 AM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information