Angry Birds dev Rovio plans stock market jump
Friday, 18th March 2011 at 7:24 pm
Group seeks initial public offering in New York
Finnish studio Rovio is seeking floatation in the United States, the company has said.
The move would make Rovio one of Europe’s few digital-only developers to be publicly-funded. The floatation, if it goes ahead, would also make the Angry Birds creators one of the only mobile games developers in the world to have its shares traded on the stock market.
In a statement the company said: “The plan is to seek an initial public offering in New York, but the specific timing and details are still open.”
Last week Rovio revealed it had secured $42 million in a surprise investment round.
The round is led by Accel Partners and Atomico Ventures. As part of the deal, Atomico Ventures founder Niklas Zennström will be joining the board of Rovio.
In a statement Rovio said it had ambitious plans that its investors "endorse and will facilitate”.
The studio added: “The investment will transform Rovio’s growth, allowing it to increase its reach internationally, and across markets including mobile, social media and other platforms, and via merchandising and media production and partnerships.
Rovio’s breakthrough project, Angry Birds, is thought to have made $70 million in App Store sales, ad revenues and merchandise royalties. The game, Rovio’s 52nd, was suggested had cost about $140,000 to build.
Angry Birds has been downloaded over 100 million times, according to the firm.
© Develop 2013. All rights reserved.