Angry Birds Plans 2012 IPO, CEO Says Company Worth Over $1 Billion
Rovio, the Finnish company behind the incredibly popular Angry Birds mobile game, is planning to launch an IPO in 2012. Angry Birds Mighty Eagle (CEO) Peter Vesterbacka told Bloomberg that they may be ready for an IPO a year from now, but not this year.
The company has been expanding into a wide variety of products, including flip flops, plush toys, a cookbook, Halloween costumes, movies and even baby clothes. Angry Birds is a great product, but it is not clear how far Rovio can go on just one game.
Vesterbacka told Bloomberg, "Disney started as a black and white cartoon about this little mouse. Nintendo has been working on Mario for 26 years. Angry Birds is less than two years old."
Both Disney and Nintendo have wide variety of products. Rovio will likely need many new products, in addition to Angry Birds, if it has goals of becoming as big as either company.
Posted on October 13, 2011