NewsBytes
    Hindi Tamil Telugu
    More
    In the news
    Narendra Modi
    Amit Shah
    Box Office Collection
    Bharatiya Janata Party (BJP)
    OTT releases
    Hindi Tamil Telugu
    NewsBytes
    User Placeholder

    Hi,

    Logout

    India
    Business
    World
    Politics
    Sports
    Technology
    Entertainment
    Auto
    Lifestyle
    Inspirational
    Career
    Bengaluru
    Delhi
    Mumbai

    Download Android App

    Follow us on
    • Facebook
    • Twitter
    • Linkedin
    Home / News / Business News / 'Angry Birds' maker Rovio plans IPO with $2 billion valuation
    Next Article
    'Angry Birds' maker Rovio plans IPO with $2 billion valuation

    'Angry Birds' maker Rovio plans IPO with $2 billion valuation

    By Anish Chakraborty
    Sep 06, 2017
    01:40 am

    What's the story

    What is the worth of a Finnish company, which is known for making adorable yet disgruntled birds throwing themselves at pigs? Apparently, it's as high as $2 billion.

    Rovio Entertainment Ltd, of "Angry Birds" fame, is finally moving ahead with its long-awaited IPO to garner funds for new games and deals.

    Reports suggest the company is seeking quite a high valuation.

    Here's more.

    IPO

    Why IPO?

    The firm intends to raise around $36 million by selling new shares and its existing investors will also sell some of their stakes.

    Rovio's claim to fame was the 2009 launch of the original "Angry Birds" game.

    The firm later licensed the brand for its use on toys and clothing, effectively spinning it into a successful franchise.

    Rovio

    Things have been going slow

    The firm's games have since been downloaded 3.7 billion times as of June. Reportedly, the company is now seeking a high valuation of $2 billion.

    The firm has, however, declined to comment on the matter. Although Angry Birds had proved to be a money spinner earlier, recently, it failed to gain major momentum against rival games, like "Candy Crush Saga" and "Clash of Clans."

    Valuation

    Too much of "Angry Birds"

    The success of 2016's 3D movie "Angry Birds," coupled with some new games, helped the brand re-establish itself to a certain extent. Still, according to analysts, their $2 billion valuation is pretty high.

    They believe that Rovio is banking on the "Angry Birds" too much and it should now develop some new games asap, else they will become stagnant.

    M&A

    New games

    Rovio's CEO Kati Levoranta said that the firm is working on new game ideas and is also planning a sequel to the movie, which will see a 2019 release.

    Its current titles are "Angry Birds 2," "Angry Birds Blast", "Angry Birds Friends" and a new multiplayer entry called "Battle Bay." It's also looking at consolidation, to grow as a brand.

    Facebook
    Whatsapp
    Twitter
    Linkedin
    Related News
    Latest
    Initial Public Offering (IPO)

    Latest

    Decoding the 170-plus partnerships against Delhi Capitals in IPL Indian Premier League (IPL)
    Microsoft Build 2025 starts today: How to watch the keynote Microsoft
    Xiaomi to take on Tesla's best-selling EV with YU7 SUV Tesla
    Cannes 2025: Shalini Passi's gown honors India's artistic legacy Cannes Film Festival

    Initial Public Offering (IPO)

    Warren Buffett takes on Donald Trump Donald Trump
    Three IPOs to hit Indian markets in September India
    ICICI Pru Life insurance IPO: To subscribe or not? India
    Pune-based startup Druva raises $51 mn in funding Nexus Venture Partners
    Indian Premier League (IPL) Celebrity Hollywood Bollywood UEFA Champions League Tennis Football Smartphones Cryptocurrency Upcoming Movies Premier League Cricket News Latest automobiles Latest Cars Upcoming Cars Latest Bikes Upcoming Tablets
    About Us Privacy Policy Terms & Conditions Contact Us Ethical Conduct Grievance Redressal News News Archive Topics Archive Download DevBytes Find Cricket Statistics
    Follow us on
    Facebook Twitter Linkedin
    All rights reserved © NewsBytes 2025