Angry Birds developer Rovio seeks to raise $400 million in IPO that values the firm at $2 billion?
Angry Birds made its debut in December 2009 for iOS. The popularity of the game led to versions for Android, Maemo, webOS, Symbian, Series 40 and Windows Phone. Themed versions of the game soon appeared and the characters were licensed for a variety of consumer products including lunch boxes, board games, clothing, school supplies and more. While Rovio was bringing in a ton of money from these deals, there was also an Angry Birds theme park that opened in China, and an animated television series that was found on television stations around the world..
As the years went by, the number of Angry Birds players started slipping and the Birds found themselves less in demand for licensing deals. But just when it seemed that the foul fowl were done, along came The Angry Birds Movie to take top spot on its opening weekend with $39 million in ticket sales. Overall, the film produced $350 million in global ticket sales, and a sequel has been greenlit. It has been suggested that some of the funds raised by an IPO could be used toward the film.
Certainly, some of the money raised could be used to develop new properties or purchase promising new games. A mobile game developer is only as good as its latest game, and that is an area where Rovio needs help.
Among the investment bankers believed to be working with Rovio on an IPO are Carnegie Bank A/S, Danske Bank A/S and Deutsche Bank AG.