Rovio, the maker of Angry Birds, is reportedly planning an IPO

by admin August 27, 2017 at 7:04 am


Rovio, the Finnish company behind Angry Birds, is planning to go public “as early as next month,” Bloomberg reports.

Citing sources, Bloomberg reports the IPO could value Rovio at $2 billion and that the company could raise about $400 million from a local market listing. Though, it seems that a final decision has yet to be made, meaning Rovio may decide to stay private for longer.

Since first releasing Angry Birds in 2009, Rovio has expanded its business to include movies and other games because the company realized it could not solely rely on Angry Birds games for revenue. The release of the Angry Birds movie in 2016 helped increase game sales and earlier this year, Rovio posted 2016 revenue growth of 34 percent to 190.3 million euro with earnings of 17.5 million euro. In the year prior, Rovio posted a loss.

Back in June, news came out that Tencent was considering a $3 billion purchase of Rovio, as well as that Rovio may consider going public in the near future.

At the time, Rovio said, “A stock exchange listing at some point in the future could be possible in order to support the continued strong growth of Rovio and its strategic targets.”

I’ve reached out to Rovio and will update this story if I hear back.

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