Angry Birds Maker Planning an IPO at $2 Billion Value - Tech Carving

Angry Birds Maker Planning an IPO at $2 Billion Value

Rovio, the maker of popular Angry Birds game is all set to launch an IPO “as early as next month.” The news comes from Bloomberg, which reported that "the IPO could value Rovio at $2 billion and could raise about $400 million from a local market listing."

It further reported that no final decision has been made yet, and the plan to go public might also be postponed. Rovio first set of Angry Birds game was launched in 2009 and was a big hit, but the company soon realized that it cannot solely on games, so in 2016 it released Angry Birds movie.

The release of Angry Birds movie resulted in the revenue growth of 34 percent to 190.3 million euros with earnings of 17.5 million euros. Prior to that, the company posted a loss.

Rovio

In June this year, Rovio emphasized further growth plan by going public by saying that, "We and our shareholders regularly assess different alternatives to further develop Rovio,"

"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. However, Rovio and its owners have not made any decisions regarding a possible IPO."

This time also there is no concrete decision taken yet, so we have to0o wait for the official announcement from Rovio to go public.
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