Mind Candy eyes up IPO 'within the next few years'
Thursday, 16th February 2012 at 10:03 am
Moshi Monsters studio looking to break US consumer market
Mind Candy is considering launching an IPO “within the next few years”, says CEO Michael Acton Smith.
Speaking to Reuters, he said going public would be the smartest move for the Moshi Monsters developer and that he wasn’t looking to sell the company.
"We can't stay necessarily stay private forever,” said Acton Smith.
“We have a lot of shareholders and we don't want to sell. Going public at some point is the smartest way forward.”
He added that Mind Candy had warmed to the idea of going public after being inspired by tech companies such as Zynga and Facebook.
"The window has been opened this year where it hasn't been in recent years. Investors are understanding there's a huge amount of value in tech businesses," he said.
Having generated more than $100 million from Moshi Monsters related merchandise this year, Acton Smith said the company was looking to break the US consumer market, which would be an important part of any potential IPO.
"To build a business with global scale that can go public, we absolutely have to be huge in the U.S. and that's one of the many reasons we want 'Moshi' to take off here," he said.
Recently valued at more than $200 million, Acton Smith said in October that Mind Candy was looking to double it staff to 200 “in the next 12 months”.
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