Angry Birds maker eyes IPO golden egg

“Angry Birds maker Rovio Entertainment said sales jumped tenfold to $100 million last year as gamers flocked to download its titles, adding business was now strong enough for a stock market listing,” Tarmo Virki reports for Reuters.

“The Finnish startup making Angry Birds games — in which players use a slingshot to attack pigs who steal the birds’ eggs — has been valued by analysts at up to $9 billion, just short of that of struggling world No.2 phone maker Nokia,” Virki reports. “Rovio said on Monday its finances were good enough for a listing after revealing a highly profitable 2011 in its first public disclosure of business results and forecast a bumper year ahead. Rovio, originally founded in 2003, became a global phenomenon after it launched Angry Birds for Apple’s iPhone in late 2009.”

Virki reports, “At the shareholders meeting on Monday listing plans were not on the agenda, but Rovio has earlier said the company would likely be ready for an initial public offering next year, either in New York or Hong Kong. ‘This company is preparing itself and getting ready,” said Anders Lindeberg, Rovio’s head of investor relations, adding the firm was working on meeting corporate governance requirements.'”

Read more in the full article here.

MacDailyNews Take: The gift of Apple Inc. just keeps on giving.

9 Comments

  1. The Fins had an entire phone industry and lost it and now just one piece of software gave them a leg up on surpassing it ON A DIFFERENT PHONE PLATFORM. They managed to write more titles and become a major industry. Amazing story of the Finnish people.

    1. Yeah, but Nokia’s market cap is a shadow of what it once was. Go back five years and Nokia was worth $108bn. Just goes to show just how badly they’ve lost their way. It’s almost like a rerun of Sun Microsystem’s story.

  2. Oh boy, a new slot machine in the casino. You don’t make a one-trick pony more valuable by seeing if you can dupe someone into paying you more money for it than you did. It becomes more valuable as it learns new tricks. That Angry Birds is installed on x% of iDevices now doesn’t justify the expectation that sales will grow just because more iDevices are sold.

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