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?
"Spreading the rumors, it's very easy because the people who write about Apple want that story, and you can claim its credible because you spoke to someone at Apple." -- Investment guru Jim Cramer
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
iLate: CEO Tim Cook Says Apple Watch Will Ship in April
January 28, 2015, 3:03 PM
Amazon's Fire Sale on Fire Phone Steps up in UK w/ 1-Day Sale @ $150 Unlocked
January 28, 2015, 11:53 AM
Apple Sees Record Profit of $18 Billion, Sells 74.5 Million iPhones in Q1 FY2015
January 27, 2015, 6:01 PM
Apple Might Miss High-End of Analyst Estimates, Microsoft Earnings Hint
January 27, 2015, 3:14 PM
Microsoft Smartphone Sales Up 28 Percent as Lumia Budget Models Gain Ground
January 27, 2015, 8:30 AM
Quick Note: Special 20th Anniversary PlayStation 4 Raises $128,000 for Charity
January 26, 2015, 4:14 PM
Most Popular Articles
Under the Hood: How DirectX 11.3 and 12 Will Supercharge Windows 10 Gaming
January 23, 2015, 12:34 PM
2016 Cadillac CTS-V Packs 640 hp Punch with 200 mph Reach
January 23, 2015, 3:25 PM
Microsoft Shows Off Latest Windows 10 Build, Preps it for Next Week Release
January 21, 2015, 2:57 PM
Google Fixes Homophobic "Bug" in its Translator
January 27, 2015, 2:31 PM
Will Google Become America's Fifth Major Carrier?
January 22, 2015, 12:42 PM
Latest Blog Posts
Sceptre Airs 27", 120 Hz. 1080p Monitor/HDTV w/ 5 ms Response Time for $220
Dec 3, 2014, 10:32 PM
Costco Gives Employees Thanksgiving Off; Wal-Mart Leads "Black Thursday" Charge
Oct 29, 2014, 9:57 PM
"Bear Selfies" Fad Could Turn Deadly, Warn Nevada Wildlife Officials
Oct 28, 2014, 12:00 PM
The Surface Mini That Was Never Released Gets "Hands On" Treatment
Sep 26, 2014, 8:22 AM
ISIS Imposes Ban on Teaching Evolution in Iraq
Sep 17, 2014, 5:22 PM
More Blog Posts
Copyright 2015 DailyTech LLC. -
Terms, Conditions & Privacy Information